ArabFinance: The consolidated financial statements of Paints and Chemical Industries (Pachin) (PACH) showed a shift to losses during the first nine months of the fiscal year (FY) 2021/2022, according to preliminary financial indicators filed to the Egyptian Exchange (EGX) on May 30th.

The company reported a consolidated loss attributable to the parent company of EGP 856,000 from July 2021 until the end of March 2022, compared to a net profit of EGP 50.108 million in the same period a year earlier.

Standalone statements showed a net loss of EGP 1.04 million in the July-March period, compared to a net profit of EGP 2.867 million in the year-ago period.

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