Cairo – Mubasher: Egyptian Chemical Industries (Kima) turned to net profits of EGP 689.32 million during the period from July to June of fiscal year (FY) 2021/2022, against net losses of EGP 1.42 billion in the previous FY.

The turn to profits was backed by higher sales by EGP 3 billion, according to a bourse filing on Tuesday.

The company’s revenue soared by 318% during FY21/22 to EGP 4.44 billion, compared to EGP 1.39 billion a year earlier.

It is worth noting that in the first nine months (9M) of FY21/22, Kima recorded net profits after tax worth EGP 481.94 million, against net losses of EGP 1.01 billion in 9M-20/21.