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PACHIN reports 88% profit decline

PACHIN reports 88% profit decline

ArabFinance: Paint & Chemicals Industries -  PACHIN (PACH) reported an 88% Year on Year decline in its consolidated net profit in the fiscal year (FY) 2019/2020, according to the company’s November 8th financial statements filed to the Egyptian Exchange.

Consolidated net profit before minority interest stood at EGP 4,568,383 in FY 2019/2020, compared to EGP 37,512,526 achieved in FY 2018/2019.

Standalone net profit reached EGP 3,285,960 in FY 2019/2020, a 95% fall from EGP 65,081,377 posted in the FY 2018/2019.

PACHIN distributed cash dividends of EGP 1.75 per share payable in two installments to shareholders recorded on January 27, 2019.

Paints and Chemical Industries Company (PACHIN) is an Egypt-based public shareholding company engaged in the production, marketing and distribution of paints, varnishes, industrial chemicals, printing inks, animal extracts and other related products.

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