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MOPCO sees 29% standalone profit rise

MOPCO sees 29% standalone profit rise

ArabFinance Misr Fertilizers Production Company (MOPCO) (MFPC) reported a 29% Year on Year increase in its standalone net profit in the first nine months of 2020, according to the company’s November 10th financial statements filed to the Egyptian Exchange.

Standalone net profit after tax stood at EGP 725,145,907 in the January-September period of 2020, compared to EGP 561,605,250 achieved in the prior-year period.

The company attributed higher profits to the decrease in export selling prices by an average of $34 per (EGP 532.09) ton during the period, in addition to a decline in the US dollar against the Egyptian pound by EGP 1.26.

Earlier, MOPCO announced distributing EGP 2.5 per share worth of dividends for 2019.

MOPCO, 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.


*At press time, the conversion rate is $1 = EGP 15.65


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04 Oct 2021
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