Arab Finance: Egyptian Chemical Industries (KIMA) reported a 15% year-on-year (YoY) drop in net profits after tax during the first half (H1) of the fiscal year (FY) 2023/2024, according to the firm's financial indicators.
The company’s profits after tax fell to EGP 513.616 million in H1 of the current FY from EGP 604.446 million in H1 of the last FY.
Sales rose 14% YoY to EGP 3.209 billion in six months to December 31st, compared to EGP 2.808 billion.
KIMA is an Egypt-based chemical producer, founded in 1956 to produce nitrogenous manure for the Southern Valley by using the elector-hydraulic power generated by the Aswan Dam.