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Kima sees plunge in 9M-23/24 net profits

Kima sees plunge in 9M-23/24 net profits
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Kima
EGCH
-1.63% 7.25 -0.12

Cairo – Mubasher: The standalone net profits after tax of Egyptian Chemical Industries (Kima) reached EGP 102.28 million in the first nine months (9M) of fiscal year (FY) 2023/2024.

The recorded net profits were lower by 90% year-on-year (YoY) than EGP 1.01 billion, according to the income statements.

Sales dropped by 10% to EGP 4.61 billion in 9M-23/24 from EGP 5.13 billion a year earlier.

The earnings per share (EPS) plunged by 94% YoY to EGP 0.08 in the nine-month period that ended on 31 March 2024 from EGP 0.93.

In the first half (H1) of FY23/24, the EGX-listed firm logged net profits after tax valued at EGP 513.61 million, an annual decrease of 15% from EGP 604.44 million.

Meanwhile, Kima is projecting to register a net profit of EGP 821.13 million in FY24/25.