Cairo – Mubasher: Adjusted financial statements showed that Extracted Oil and Derivatives Company turned to profitability in the fiscal year 2014/2015, overcoming the losses it had suffered in previous fiscal year.

The company’s net profit came to EGP578, 000 ($72, 200), versus a net loss of EGP4.6 million ($574, 800) a year earlier, the statement explained.

The Egypt-listed company made gross earnings of about EGP611 million, compared to EGP287, 600.

Audited financial statements previously reported a net loss of EGP2.3 million in FY14/15.

Unaudited financial statements also showed a net income after taxes of EGP 2.5 million during, versus EGP4.6 million.

The company’s share ended yesterday’s session at EGP 0.74, dropping by 1.35% with a trading volume reacheing 281.800 shares, at a value of  EGP208, 000.