Cairo – Mubasher: Alexandria Mineral Oils Co (AMOC) on Sunday reported a 37% year-on-year decline in profits for the first quarter of fiscal year 2018/2019.

Net profit amounted to EGP 253.09 million in the three-month period ended September, from EGP 402.6 million in the prior-year period, AMOC said in a filing to the Egyptian Exchange (EGX).

Sales increased to EGP 4.1 billion in the July-September period of FY18/19 from EGP 3.5 billion in the same quarter a year ago.

AMOC previously reported 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 FY17/18, compared to EGP 853.5 million in the year-ago period.

Sales grew to EGP 10 billion in the nine-month period of the last fiscal year from EGP 6.5 billion in the corresponding period of FY16/17.