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MOPCO achieves 26% profit increase

MOPCO achieves 26% profit increase

ArabFinance: Misr Fertilizers Production Company (MOPCO) (MFPC) reported a 26% Year on Year rise in its consolidated net profit for the first half (H1) of 2020, according to the company’s August 24th financial statements filed to the Egyptian Exchange.

Consolidated net profit stood at EGP 1,184,256,210 in H1 2020, compared to EGP 937,725,385 achieved in H1 2019.

The company attributed the increase in H1 profit to a decline in financing costs by EGP 434 million and income taxes by EGP 186 million.

Standalone net profit stood at EGP 565,380,934 in H1 2020, a 39% increase from EGP 406,008,115 achieved in H1 2019.

MOPCO announced distributing EGP 2.5 per share as dividends for 2019.

Misr Fertilizers Production, formerly Misr Oil Processing company, is an Egypt-based company that is engaged in the production, marketing, wholesaling and distributing of fertilizers and petrochemical products. The company's various products include ammonia, urea, and nitrogen.

 

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