Cairo – Mubasher: Alexandria Mineral Oils Company (AMOC) intends to invest EGP 227 million as proposed in the budget plan for fiscal year (FY) 2021/2022.

The board of AMOC approved the budget plan that indicates a net profit after tax worth EGP 200.34 million for FY21/22, according to a bourse filing on Thursday.

AMOC also targets revenues of about EGP 10.2 billion in the coming FY, compared to EGP 7.32 billion in FY20/21.

During the nine-month period ended on 31 March 2021, the company turned profitable at EGP 103.31 million, against net losses of EGP 152.48 million in the year-ago period.