Cairo – Mubasher: Misr Fertilizers Production Co (Mopco) posted a 171.4% year-on-year hike in profits for the second quarter of 2017, according to a bourse filing on Monday.

The firm achieved profits of EGP 335.25 million in Q2-17 from EGP 123.54 million in Q2-16.

Net sales rose 59.43% year-on-year to EGP 468.58 million in Q2-17 from EGP 293.91 million in Q2-16.

In the first half of 2017, standalone profits grew to EGP 753.5 million from EGP 377.67 million in H1-16.

The Egyptian company had previously reported a 65% rise in profits to EGP 418.25 million for Q1-17 from EGP 254.12 million in Q1-16.

By 10:36 am Cairo time, Mopco’s stock levelled up 1.68% to EGP 94, with a turnover of EGP 2.8 million exchanged through 29,480 shares.