Cairo – Mubasher: Alexandria Mineral Oils Co (Amoc) on Monday reported a 36.6% year-on-year surge in profits for the first half of fiscal year 2017/2018 due to higher revenues.
Net profits reached EGP 745.48 million in the six-month period ended December 2017, versus EGP 545.7 million in H1-16/17, the company said in a filing to the Egyptian Exchange (EGX).
Revenues doubled to EGP 6.25 billion in H1-17/18 from EGP 3.2 billion in the prior fiscal year’s period.
The financial indicators previously showed a 374.7% hike in Amoc’s profits for the first quarter of FY17/18.
Net profits amounted to EGP 402.6 million in Q1-17/18, up from EGP 84.8 million in Q1-16/17.
