Cairo – Mubasher: The net profits of the Egyptian Chemical Industries (Kima) skyrocketed by 386% on an annual basis during the first quarter (Q1) of fiscal year (FY) 2022/2023 to EGP 471.22 million, compared to EGP 122.04 million.

Sales of the EGX-listed firm reached EGP 1.56 billion in the July-September period of FY22/23, a surge of 158% from EGP 987.62 million in the year-ago period, according to a bourse statement on Tuesday.  

During FY21/22, Kima turned to net profits of EGP 689.32 million, against net losses of EGP 1.42 billion in the previous FY. The turn to profits was backed by higher sales of EGP 3 billion.