Cairo – Mubasher: The Egyptian Chemical Industries (KIMA) said shareholders ratified the company’s budget estimate for the fiscal year 2016/2017, according to a bourse filing posted Thursday.
The budget shows targeting EGP 51.2 million net profit.
The company’s ordinary general meeting recommended boosting export sales, slashing costs as well as optimal utilisation of available capacities.
KIMA’s net profits for the first nine months of FY15/16 amounted to EGP 129.39 million, up 52% year-on-year from EGP 85.13 million.
