Cairo – Mubasher: Misr Fertilizers Production Co (Mopco) on Wednesday reported turning to profitability during the first nine months of 2017 due to a growth in sales.

Consolidated profits amounted to EGP 241.84 million in the nine-month period ended September 2017, up from EGP 99.29 million the year-ago period, including minority shareholder’s rights, the company highlighted in a filing to the Egyptian Exchange (EGX).

Consolidated sales increased to EGP 5.38 billion in the January-September period 2017 from EGP1.14 billion in the corresponding period of 2016.

Mopco had previously posted a 41% year-on-year hike in standalone profits for the first nine months of 2017 to EGP 646.9 million from EGP 459 million.

Standalone sales increased to EGP 1.8 billion in the first three quarters of 2017, compared to EGP 693.9 million in the prior-year period.