Cairo – Mubasher: The consolidated financial statements of Misr Fertilizers Production Company (Mopco) showed a 22.6% year-on-year (YoY) increase its net profits to EGP 533.6 million during the first quarter of 2020 from EGP 435.2 million.
Mopco’s sales shrank to EGP 1.8 billion in the three-month period ended on 31 March from EGP 2.35 billion in the corresponding period a year earlier, according to a bourse disclosure on Monday.
As for standalone business, the company’s net profits grew to EGP 224.65 million in Q1-20 from EGP 215.32 million in Q1-19, while its sales fell to EGP 561.02 million from EGP 693.62 million.
It is worth noting that in 2019, Mopco achieved net profits of EGP 1.645 billion, down from EGP 3.17 billion in 2018.
