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Mopco profits surge 33% in H1

Mopco profits surge 33% in H1
Consolidated profits rose 33.2% Y-o-Y in H1-17
Mopco
MFPC
-0.82% 51.85 -0.43

Cairo – Mubasher: The consolidated financial statements of Misr Fertilizers Production Co (Mopco) on Tuesday showed a 33.2% year-on-year rise in profits for the first half of 2017 due to a jump in its sales.

The company achieved profits of EGP 538.5 million in the six months ended June 2017 from EGP 404.17 million in the prior-year period, including shareholders’ minor rights, according to a statement to the Egyptian Exchange (EGX).

Sales increased to EGP 3.67 billion in H1-17, versus EGP 481.9 million in H1-16.

The standalone financial statements posted a rise in profits to EGP 753.5 million in H1-17 from EGP 377.67 million in the corresponding period last year.

Mopco’s financial indicators showed a 65% growth in profits to EGP 418.25 million in the first quarter of 2017, compared to EGP 254.12 million in the same period of the year before.