Cairo – Mubasher: Paint and Chemicals Industries (Pachin) on Tuesday reported a 14.5% year-on-year decline in consolidated profits for the first half of fiscal year 2017/2018.
Net profit stood at EGP 60.18 million in the six months ended last December, versus profits of EGP 70.39 million in the same period of 2016, the company said in a filing to the Egyptian Exchange (EGX).
Sales increased to EGP 504.69 million in H1-17/18, from EGP 360.67 million in H1-16/17.
Meanwhile, standalone profits plunged 75.63% to EGP 9.65 million in H1-17/18, against EGP 39.59 million profits in the corresponding period of the prior fiscal year.
By 12:20 pm Cairo time, Pachin’s stock fell 2.81% to EGP 49.88.
