KIMA turns profitable in 9 months
Updated 6/26/2022 12:50:06 PM
Arab Finance: Egyptian Chemical Industries (KIMA) (EGCH) has turned to profitability in the first nine months of fiscal year (FY) 2021/2022, according to the preliminary financial income statement filed to the Egyptian Exchange (EGX) on June 26th.
The company has recorded a net profit after tax of EGP 481.95 million in the nine-month period ended March 31st, versus a net loss of EGP 1.019 billion in the same period of FY 2020/2021.
The company’s sales surged by 378% year-on-year (YoY) in the period ended March 31st to EGP 3.12 billion from EGP 825.44 million.
KIMA is an Egypt-based nitrogen-based fertilizers manufacturing leader and is engaged in the agricultural chemicals industry.
The company produces and distributes various products, including urea, ammonium nitrate, ferrosilicon alloy, liquid ammonium nitrate fertilizer, prill ammonium nitrate fertilizer, liquid ammonia, aqua-ammonia, nitric acid, hydrochloric acid, and silica fume.
