Cairo – Mubasher: Ferchem Misr for Fertilizers and Chemicals posted a 62% year-on-year profit hike during the first half of 2019.

Net profits rose to EGP 11.6 million from January to June, compared to EGP 7.15 million in the corresponding period a year earlier, the company said in a filing to the Egyptian Exchange (EGX) on Monday.

Year-on-year, revenues rose to EGP 50.11 million in the six-month period ended 30 June, up from EGP 42.8 million.

During the first quarter of 2019, the Egyptian firm’s net profits hiked to EGP 3.6 million, compared to EGP 1.09 million in the year-ago period.