Cairo – Mubasher: The Egyptian Chemical Industries (Kima) announced turning to profitability during the first quarter of fiscal year 2019/2020, according to the company’s unaudited financial results.
Kima logged a net profit of EGP 80.1 million during the July-September period, against a net loss of EGP 12.46 million in the prior-year period, the company said in a statement to the Egyptian Exchange (EGX) on Monday.
Meanwhile, Kima’s sales inched down to EGP 65.1 million in Q1 of FY19/20, compared to EGP 66.1 million in the corresponding period a year ago.
It is noteworthy that during FY18/19, the EGX-listed firm’s net profit after taxes dipped to EGP 32.33 million from EGP 100.05 million a year earlier.
