Cairo – Mubasher: The initial financial results for the Egyptian Chemical Industries (Kima) during the second quarter (Q2) of fiscal year (FY) 2021/2022 indicated a net profit of EGP 350 million, according to a bourse disclosure on Wednesday.

Kima also recorded sales worth EGP 2 billion in Q2 that ended on 31 December 2021.

The company, which is a subsidiary of Chemical Industries Holding Company, targets net profits worth about EGP 600 million at the end of FY21/22, which will end on 30 June 2022.

In Q1-FY21/22, which ended on 30 September 2021, Kima turned to net profits of EGP 122.04 million, against net losses of EGP 414.84 million in the year-ago period.