Cairo – Mubasher: Misr Fertilizers Production Co (Mopco) announced the appointment of Hisham Nour El-Din Ashraf as the company’s new chairman and managing director.

The new chairman will succeed Ibrahim Abdelsalam El-Kenawy as of the date of issuing the decision, according to a filing to the Egyptian Exchange (EGX) on Tuesday.

During the first quarter of 2019, Mopco’s net profit hiked to EGP 435.21 million, compared to EGP 262.88 million in the year-ago period.

Meanwhile, the company’s sales rose by 19% to EGP 2.358 billion in Q1-19 from EGP 1.981 billion in Q1-18.