Misr Oils records higher profits

Updated 12/23/2020 3:31:00 PM

ArabFinanceMisr Oils and Soap Company (MOSC) achieved a 61% Year on Year increase in its net profit in the first five months of the fiscal year (FY) 2020/2021, according to the company’s unaudited financial statements filed to the Egyptian Exchange.

Net profit before tax stood at EGP 6.600 million in the July-November 2020, compared to EGP 4.096 million achieved in the corresponding period a year earlier.

The company previously announced its account settlement with the Bank of Alexandria. The move will result in an increase in the company's shareholder equity by EGP 14.632 million.

MOSC is an Egypt-based company engaged in the extraction and refining of oils from plants and animals, and the production of soap and detergents. The company’s oil products include sunflower oils, corn oils, cotton seeds oils, soya oils, ghee, and butter.