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Misr Chemical Industries posts over 31-fold jump in July profit

Misr Chemical Industries posts over 31-fold jump in July profit
The profit leap was ascribed to higher selling prices of products

Cairo – Mubasher: The financial indicators of Misr Chemical Industries showed a 3,152% surge in its net profits during July, registering EGP 14.66 million from around EGP 465,000 in the same month a year earlier.

The profit leap was ascribed to higher selling prices of products, according to a bourse disclosure on Sunday

During FY19/20, the company achieved net profits of EGP 64.17 million, down 17% from EGP 77.45 million in the year-ago period.

Revenues rose to EGP 365.7 million the year ended 30 June, compared to EGP 362.5 million a year earlier.