Cairo – Mubasher: The Egyptian Chemical Industries (Kima) turned to net losses of EGP 1.5 billion in fiscal year 2019/2020, against net profits of EGP 32.33 million a year earlier, according to the unaudited financial results.

Revenues dropped to EGP 320.6 million in the year ended 30 June from EGP 341.07 million in the prior year, Kima said in a bourse disclosure on Tuesday.

During the first nine months of FY19/20, Kima reported net profits of EGP 42.915 million, versus net losses of EGP 17.79 million in the year-ago period.