Cairo – Mubasher: Misr Fertilizers Production Co (Mopco) reported a 66% year-on-year hike in its consolidated profits during the first quarter of 2019.

Net profits amounted to EGP 435.21 million in the January-March period of 2019, compared to EGP 262.88 million in the year-ago period, Mopco said in a statement to the Egyptian Exchange (EGX) on Thursday.

Year-on-year, the company’s sales went up 19% to EGP 2.358 billion in Q1-19 from EGP 1.981 billion.

For the full-year 2018, Mopco’s net profits registered EGP 3.17 billion, compared to 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.