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AMOC turns to profitability in H1-21/22

AMOC turns to profitability in H1-21/22
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AMOC
AMOC
-2.25% 3.48 -0.08

Cairo – Mubasher: Alexandria Mineral Oils Company (AMOC) has achieved consolidated net profits of EGP 407.5 million during the first half (H1) of fiscal year (FY) 2021/2022, against net losses of EGP 42.56 million in the year-ago period, according to the company's unaudited financials.

The company generated revenues of EGP 7.1 billion in the first six months of FY21/22, up from EGP 4.25 billion in the corresponding period of the earlier year.

As for the standalone financials, the company recorded EGP 345.8 million net profits in H1-21/22, compared to EGP 84.4 losses in the same half of the previous year.

It is noteworthy to mention that in the first quarter (Q1) of FY21/22, AMOC turned to net profits of EGP 229.6 million, versus net losses of EGP 31.98 million in the prior-year period.