Cairo – Mubasher: Alexandria Mineral Oils Co (AMOC) is looking to generate a profit of around EGP 707.2 million in fiscal year 2018/2019, against EGP 1.008 billion in profits.

The investment scheme of the company targets EGP 514.8 million in investments in the next fiscal year, AMOC said in a filing to the Egyptian Exchange (EGX) on Sunday.

The financial indicators of AMOC had shown a 24% year-on-year rise in profits for the nine-month period ended March 2018.

Net profit stood at EGP 1.05 billion in the July-March period of fiscal year 2017/2018, compared to EGP 853.5 million in the prior-year period.

Sales grew to EGP 10 billion in the nine-month period of FY17/18 from EGP 6.5 billion.

It is worth noting that the Alexandria-based firm had previously reported a 36.6% year-on-year surge in profits for the first half of FY17/18, recording EGP 745.48 million from EGP 545.7 million