Cairo – Mubasher: Misr Chemical Industries reported a profit of EGP 77 million during fiscal year 2018/2019, down from EGP 139.3 million in FY17/18, according to the company’s audited financial statements.

The company’s profits is lower than the estimated EGP 78.5 million previously reported in the company’s financial indicators as the company has set aside some necessary provisions based on the auditors’ instructions, according to a statement to the Egyptian Exchange (EGX) on Wednesday. 

In addition, the company’s board of directors recommended a cash dividend distribution of EGP 1 per share with a total amount of EGP 65 million for FY18/19, compared to EGP 71.5 million in FY17/18.

The proposed dividends are still pending the company’s ordinary general meeting (OGM) approval on 30 September.