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Misr Chemical Industries posts 278% higher profit in nine months

Misr Chemical Industries posts 278% higher profit in nine months
The company generated EGP 356.01 million in revenue

Cairo – Mubasher: The net profits of Misr Chemical Industries jumped by 278% year-on-year (YoY) to EGP 107.55 million in the first nine months of fiscal year (FY) 2020/2021, compared to EGP 28.46 million, the unaudited financial results showed.  

The company generated EGP 356.01 million in revenue in the nine-month period ended 31 March, compared to EGP 245.35 million in the corresponding period a year earlier, according to a bourse disclosure on Tuesday.

The profit growth was ascribed to higher selling prices of the company’s products.

During the first half (H1) of FY20/21, the company posted net profits of EGP 82.26 million, up from EGP 14.34 million in the year-ago period.