Cairo – Mubasher: The unaudited financial results of the Egyptian Chemical Industries (Kima) revealed a turn to profitability during the first half of fiscal year 2019/2020.
Kima reported net profits of EGP 42.78 million during the six-month period ended 31 December 2019, against net losses of EGP 3.2 million in the year-ago period, according to a bourse filing on Tuesday.
The company’s revenues shrank to EGP 120.85 million in H1 of FY19/20, compared to EGP 177.7 million in the corresponding period a year earlier.
It is worth mentioning that during the first quarter of FY19/20, Kima logged net profits of EGP 80.1 million, versus net losses of EGP 12.46 million in the prior-year period.
