Cairo – Mubasher: Misr Chemical Industries on Sunday reported a 22.5% year-on-year decline in its profits for the first half of fiscal year 2018/2019.
Net profit reached EGP 59.52 million during the six-month ended December 2018, versus EGP 76.8 million in the year-ago period, according to a filing to the Egyptian Exchange (EGX).
In October, Misr Chemical posted a 16% year-on-year drop in its profits for the first quarter of FY18/19.
The company logged EGP 24.6 million in profits during the three-month ended September, versus EGP 29.4 million in the year-ago period.
Revenues grew to EGP 96.06 million in Q1-18/19, compared to EGP 87.2 million in the same period a year earlier.
It is worth noting that Misr Chemical previously posted a net profit of EGP 140.1 million for FY17/18, against a net loss of EGP 23.8 million in the year-ago period.
