Cairo – Mubasher: The Egyptian Chemical Industries (Kima) turned profitable during the first nine months of fiscal year 2019/2020, the unaudited financial results showed.

Kima achieved net profits of EGP 42.915 million from July 2019 until the end of last March, against net losses of EGP 17.79 million in the year-ago period, according to a statement to the Egyptian Exchange (EGX) on Tuesday.

Meanwhile, revenues sank to EGP 165.9 million in the nine-month period from EGP 261.1 million in the corresponding period a year earlier.

It is worth noting that in the first half of FY19/20, Kima reported net profits of EGP 42.78 million, against net losses of EGP 3.2 million in H1 of FY18/19.