Cairo – Mubahser: Misr Fertilizers Production Co (Mopco) posted a 33.35% year-on-year drop in its standalone profits during the first quarter of 2019.

Mopco’s net profits recorded EGP 215.33 million in Q1-19 from EGP 323.05 million in Q1-18, according to a statement to the Egyptian Exchange (EGX) on Thursday.

Year-on-year, the company’s costs of sales rose by 19.23% to EGP 300.59 million in the January-March period of 2019, compared to EGP 252.11 million.

For the full-year 2018, Mopco’s consolidated profit totalled EGP 3.17 billion from EGP 674.7 million in the previous year.

Sales rose to EGP 8.5 billion last year from EGP 7.3 billion in 2017.

As for standalone business, the company’s profits amounted to EGP 1.48 billion in the 12-month period ended 31 December 2018, compared to EGP 1.02 billion in 2017.