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Kima profits fall 47% in FY17/18

Kima profits fall 47% in FY17/18
Net profit reached EGP 109.68 million at the end of June
Kima
EGCH
-1.19% 9.15 -0.11

Cairo – Mubasher: The financial indicators of Egyptian Chemical Industries (Kima) have shown a 47.3% year-on-year decline in profits for fiscal year 2017/2018.

Net profit reached EGP 109.68 million at the end of June, versus EGP 208.04 million in the last fiscal year, the company said in a filing to the Egyptian Exchange (EGX) on Wednesday.

Revenues shrank to EGP 573.3 million in the 12-month period ended June, versus EGP 607.8 million in FY16/17.

Kima previously posted a net profit of EGP 57.6 million in the six-month period ended December 2017, compared to EGP 257.4 million in the corresponding period a year earlier.