Cairo – Mubasher: Misr Fertilizers Production Company (Mopco) logged EGP 565.38 million in standalone net profits during the first half (H1) of 2020, a 39.25% year-on-year (YoY) increase from EGP 406 million.
Mopco’s net sales fell to EGP 1.17 billion in the six-month period ended on 30 June from EGP 1.28 billion in the corresponding period a year earlier, according to a bourse disclosure on Tuesday.
Meanwhile, the cost of sales slid to EGP 507.1 million in H1-20 from EGP 549.4 million in H1-19.
During the first three months of 2020, the company reported consolidated net profits of EGP 533.6 million, compared to EGP 435.2 million in the year-ago period.
Moreover, the company’s standalone net profits grew to EGP 224.65 million in the January-March period from EGP 215.32 million in the same period in 2019.
