Cairo – Mubasher: The extraordinary general meeting of Chemical Industries Holding Company (CIHC) approved raising the company’s capital to EGP3 billion approximately from EGP2.5 billion.
In a press release, the Ministry of Public Sector said the extraordinary meeting also approved 2015 financial results, in which the holding company reported a net profit of EGP380 million for 2014/15, compared to EGP410 million a year earlier.
On the other hand, CIHC subsidiaries’ profits for 2014/15 rose jumped 51.5% to EGP679 million from EGP448 million.
Earlier, Egypt's prime minister assured that the government has no intention to sell public-sector companies, but it plans rather to reform and effectively run them for bringing revenues through floating some of them.
