Cairo – Mubasher: Misr Chemical Industries on Sunday posted a 34.6% year-on-year decrease in its net profit for the first eight months of fiscal year 2018/2019.
The company recorded a net profit of EGP 68.34 million during the eight-month period ended February, versus EGP 104.47 million in the same period a year earlier, according to a filing to the Egyptian Exchange (EGX).
The EGX-listed firm added it would develop and upgrade its internal exhaust pipes and the metal canopy of its natural gas building at a cost of EGP 3 million.
In January, Misr Chemical reported that its profits fell to EGP 59.52 million during the six-month ended December 2018, 22.5% year-on-year down from EGP 76.8 million in the year-ago period.
