Cairo – Mubasher: The consolidated financial indicators of Paint and Chemicals Industries (Pachin) showed a turn to net losses of EGP 4.14 million in the first nine months of fiscal year 2019/2020, against net profits of EGP 26.8 million in the prior-year period.
The company’s sales dropped to EGP 585.6 million in the nine-month period ended on 31 March from EGP 644.41 million in the same period a year earlier, according to a bourse disclosure on Thursday.
As for standalone business, Pachin’s net profits went down to EGP 1.75 million from July 2019 to the end of last March, compared to EGP 3 million in the year-ago period.
It is noteworthy to mention that during the first half of FY19/20, the company’s net profits plunged to EGP 2.52 million from EGP 23.65 million in H1 of FY18/19.
