Cairo – Mubasher: Misr Fertilizers Production Co (Mopco) on Tuesday posted a 16.5% year-on-year decline in standalone profits for the first half of 2018.

Net profit amounted to EGP 629.02 million in the six-month ended June, compared to EGP 753.49 million in H1-17, the company said in a filing to the Egyptian Exchange (EGX).

Sales retreated to EGP 560.06 million in H1-18 from EGP 1.21 billion in the corresponding period a year earlier.

Mopco previously posted a 33% year-on-year fall in consolidated profits for Q1-18, recording a net profit of EGP 262.1 million from EGP 393.7 million.