Cairo – Mubasher: Paint and Chemicals Industries (PACHIN) reported a growth of 14.49% in the consolidated net profits for the first quarter of the fiscal year 2016/2017.
Net earnings amounted to EGP 20.22 million in the first quarter ended 30 September, 2016 as compared to EGP 17.66 million in the same period a year ago, according to a bourse statement issued on Monday.
Net consolidated sales reached EGP 158.2 million in Q1 of FY16/17, down from EGP 203.5 million in the same quarter a year ago.
The standalone profits soared by 298.2% to reach EGP 11.51 million this year as compared to EGP 2.89 million in the same quarter a year ago.
The company’s fiscal year begins on 1 July.
