The board of Misr Chemical Industries (MCIH) ratified financial highlights for the fiscal year that ended on June 30, 2014, showing that net profit fell 41% to EGP 36.7 million, compared with EGP 62.3 million a year earlier.
FY13/14 sales totaled EGP 166 million, compared with EGP 199 million in FY12/13.
Financial statements for the first nine months of FY13/14 showed EGP 23.8 million net profit, with a decline by 46% compared with EGP 44.3 million net profit in the same period a year earlier. MCIH financial results for the seven-month period from July 1, 2013 till January 31, 2014 had mirrored EGP 26.957 million net profit, with a fall by 20.6% year-over-year from EGP 33.943 million.