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Kima Q1 profits soar 122% on higher revenues

Kima Q1 profits soar 122% on higher revenues
Net profits amounted to EGP 17.37 million in the three-month period ended September
Kima
EGCH
-0.43% 9.22 -0.04

Cairo – Mubasher: Egyptian Chemical Industries (Kima) on Monday reported a 122% year-on-year leap in profits for the first quarter of fiscal year 2017/2018, due to higher revenues.

Net profits amounted to EGP 17.37 million in the three-month period ended September, versus EGP 7.82 million in the prior-year period, the firm highlighted in a filing to the Egyptian Exchange (EGX).  

Revenues rose to EGP 166 million in Q1 of FY17/18 from EGP 84.4 million in Q1 of FY16/17.

Kima had previously posted profits of EGP 208.04 million in the fiscal year ended June 2017 from EGP 100 million in the previous fiscal year.