The board of Paints & Chemical Industries (Pachin) has recommended the distribution of cash dividend for the fiscal year 2013/2014 at EGP 63.9 million, or EGP 3.2 per share.
The company posted consolidated financial results for the fiscal year that ended on June 30, 2014, showing a decline in net profit by 23% to EGP 74.4 million, from EGP 96.8 million a year earlier.
Standalone net profit amounted to EGP71.4 million, compared with EGP 82.29 million in FY12/13.
Financial results for the nine-month period that ended on March 31, 2014 had shown a 17% drop in net profit to EGP 54.9 million, compared with EGP 66.7 million net profit in the same period a year earlier. The company’s financial results for the period July-December, 2013 had shown EGP 45.24 million net profit after tax and minority interest, compared with EGP 48.46 million in the same period a year earlier.