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Kima turns to profitability in Q1-21/22

Kima turns to profitability in Q1-21/22
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Cairo – Mubasher: Egyptian Chemical Industries (Kima) has achieved net profits of EGP 122.04 million in the first quarter (Q1) of fiscal year 2021/2022, against net losses of EGP 414.84 million in the year-ago period.

The company generated revenues of EGP 987.62 million in Q1-21/22, up from EGP 637.294 million in the corresponding period of the earlier year, according to a bourse filing on Thursday.

It is noteworthy to mention that in fiscal year (FY) 2020/2021, the company incurred net losses of EGP 1.42 billion, up by 5.1% year-on-year (YoY) from EGP 1.35 billion a year earlier.