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Misr Oils and Soap's profit plunges 78% in FY20/21

Misr Oils and Soap's profit plunges 78% in FY20/21
The revenues increased to EGP 1.61 billion in the year ended 30 June
Misr Oils & Soap
MOSC
0.69% 61.11 0.42

Cairo – Mubasher: Misr Oils and Soap reported a net profit drop of 78% year-on-year (YoY) to EGP 3.64 million in fiscal year (FY) 2020/2021, compared to EGP 16.77 million, the modified financial results showed. 

The revenues increased to EGP 1.61 billion in the year ended 30 June from EGP 1.52 billion in FY19/20, the company said in a bourse disclosure on Wednesday. 

During the first nine months of FY20/21, the company incurred net losses of EGP 9.88 million, against net profits of EGP 13.7 million in the same period in FY19/20.