Alexandria Mineral Oils Company (AMOC) released its 2015/16 financial highlights showing earnings of EGP435.4 mn (+28% Y-o-Y). Revenues for the year came in at EGP4.37bn (-32% Y-o-Y), while gross profit came in at EGP543mn (+12% Y-o-Y). The company managed to achieve an expansion in gross margins to 12% in 2015/16 vs only 8% in the preceding year. During 4Q15/16, AMOC was able to achieve earnings of EGP156mn (+27% Q-o-Q) on i) a 21% Q-o-Q improvement in revenues to reach EGP1.18bn; and ii) gross margin expansion of 330bps to reach 18%. (Company disclosure)