KIMA turns profitable in FY 2021/2022
Updated 10/13/2022 10:21:53 AM
Arab Finance: Egyptian Chemical Industries (KIMA) (EGCH) has turned to a profit in fiscal year (FY) 2021/2022, according to the unaudited financial income statement filed to the Egyptian Exchange (EGX) on October 13th.
The company has recorded a net profit after tax of EGP 651.486 million in the 12-month period ended June 30th, versus a net loss of EGP 1.42 billion in FY 2020/2021.
The company’s sales soared by 318% year-on-year (YoY) in FY 2021/2022 to EGP 4.44 billion from EGP 1.39 billion.
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.
