Egyptian Chemical Industries (KIMA) reports EGP257mn in earnings for 1H16/17
Egyptian Chemical Industries (KIMA) [EGCH.CA] reported its 1H16/17 financial highlights, with earnings of EGP257mn vs. earnings of EGP25mn in 1H15/16. Revenue came in at EGP264mn (+119% Y-o-Y), while gross profit came in at EGP35mn (vs. a loss of EGP740,000 in 1H15/16). The company noted that the increase in revenues was due to the increase in fertiliser prices post the EGP floatation, along with low-cost inventory. Kima also noted that earnings included FX gains of EGP219mn. (Company disclosure)
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