Cairo – Mubasher: Egyptian Chemical Industries’ (Kima) ordinary general meeting (OGM) has approved its estimated budget scheme for fiscal year 2019/2020, with an expected surplus of EGP 296.8 million.
The OGM also endorsed the company’s investment scheme for the next fiscal year with an estimated sum of EGP 162.4 million, Kima said in a statement to the Egyptian Exchange (EGX) on Wednesday.
The company is taking all the required procedures in consideration to deliver its new project as scheduled and to separate revenues and cost of the new plant from the old one to monitor the performance and measure the return on new investments, according to the statement.
Kima previously posted a net loss of EGP 3.2 million for the six-month period ended December 2018, against a net profit of EGP 57.6 million in H1-FY17/18.
