Cairo – Mubasher: Alexandria Mineral Oils Co (AMOC) reported a 69.7% year-on-year profit decline during fiscal year 2018/2019.

Net profits amounted to EGP 450 million from July 2018 to last June, compared to EGP 1.48 billion in the year-ago period, the company said in a statement to the Egyptian Exchange (EGX) on Sunday.

Meanwhile, sales rose to EGP 14.66 billion in FY18/19 from EGP 14.03 billion in the previous year.

For FY19/20, the state-run oil firm targets net profits of EGP 416.2 million and revenues of EGP 1.94 billion.