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Extracted Oils eyes EGP 6m profits in FY18/19

Extracted Oils eyes EGP 6m profits in FY18/19
The Egypt-based company is planning to generate around EGP 6.08 million in profits during FY18/19
Extracted Oils
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Cairo – Mubasher: Extracted Oils & Derivatives Company (Extracted Oils) on Monday has announced that it aims to boost its profits by 180% year-on-year in fiscal year 2018/2019.

The Egypt-based company is planning to generate around EGP 6.08 million in profits during the current fiscal year, versus a profit of nearly EGP 2.17 million in FY17/18, Extracted Oils highlighted in a filing to the Egyptian Exchange (EGX).

The Egyptian firm plans to invest EGP 28.5 million during FY18/19, versus investments of EGP 38 million in the last fiscal year.

Extracted Oils previously reported an EGP 8.16 million in profits for the July-March period of FY17/18, compared to EGP 109,000 in the year-ago period.