Cairo – Mubasher: Misr Fertilizers Production Co (Mopco) posted a 37.7% year-on-year profit growth during the first half of 2019, the company’s unaudited consolidated financial results showed.
Net profits amounted to EGP 937.72 million in the January-June period of 2019, compared to EGP 680.89 million in the year-ago period, Mopco said in a statement to the Egyptian Exchange (EGX) on Tuesday.
Sales rose to EGP 4.37 billion in the six-month period ended 30 June from EGP 3.92 billion in the corresponding period a year earlier.
The profit increase was ascribed to a $16 growth in the net profit after taxes of its subsidiary in H1-19, compared to $3.6 million in the same period a year earlier, the statement added.
The EGX-listed firm earlier revealed that its standalone profits retreated to EGP 406 million in H1-19, compared to EGP 629.02 million in H1-18.
During the first quarter of 2019, Mopco reported net profits of EGP 435.21 million, compared to EGP 262.88 million in the year-ago period.
