Cairo – Mubasher: The unaudited consolidated financial results of Misr Fertilizers Production Co (Mopco) reported a 48.2% year-on-year profit decline during 2019.

Net profits slid to EGP 1.645 billion last year from EGP 3.17 billion in 2018, the company said in a statement to the Egyptian Exchange (EGX) on Tuesday.  

Meanwhile, sales retreated to EGP 8.14 billion in the year ended 31 December 2019, compared to EGP 8.59 billion a year earlier.

Previously, the company’s standalone financial indicators showed net profits of EGP 830.42 million from EGP 1.48 billion in 2018.