Cairo – Mubasher: Misr Fertilizers Production Co (Mopco) on Monday posted a 23% year-on-year decline in standalone profits for the first quarter of 2018.
Net profit amounted to EGP 323.05 million in the three-month ended last March, compared to EGP 418.25 million in Q1-17, the company said in a filing to the Egyptian Exchange (EGX).
Sales narrowed to EGP 655.26 million in Q1-18 from EGP 767.12 million in the prior-year period.
The unaudited financial statements of Mopco had shown a 4.9% drop in profits for the full-year 2017, recording EGP 674.8 million from EGP 709.93 million in 2016.
