Arab Finance: Paints and Chemical Industries (Pachin) (PACH) has turned to losses during fiscal year (FY) 2021/2022, according to the company’s the consolidated financial statement filed to the Egyptian Exchange (EGX) on November 13th.

The company incurred a net loss attributable to the parent company of EGP 408,034 million in FY 2021/2022, versus a net profit of EGP 52.72 million in FY 2020/2021.

Consolidated sales amounted to EGP 857.59 million in FY 2021/2022, compared to EGP 849.44 million in the FT before.

At the level of the standalone financial results, Pachin achieved a net profit after tax of EGP 45,464 million in FY 2021/2022, versus a net profit of EGP 39.95 million in FY 2020/2021.

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.