Cairo - Mubasher: Misr Chemical Industries reported losses of EGP 20.8 million in fiscal year 2016/2017 versus profits of EGP 29.005 million for the year before, as shown by the company’s financial statements.
The company said in a statement to the Egyptian Exchange (EGX) on Sunday that revenues declined to EGP 158.1 million in FY16/17 down from EGP 169.6 million in the previous year.
Last month, the company reported a decrease in profits for the eleven-month period that ended on 31 May 2017 by 34% year-on-year, as profits reached EGP 17.39 million between July 2016 and May 2017 compared to EGP 26.5 million in the same period last year.
The company also reported a 49% drop in profits during the ten-month period that ended on 31 April 2017 to EGP 12.23 million from EGP 24.07 million during the same period in the year before.
