Egypt

AMOC’s profits surge in H1-FY22/23 unaudited financials

Published on : 2023-01-29

Mubasher: The unaudited consolidated net profits of Alexandria Mineral Oils Company (AMOC) skyrocketed by 146% annually during the first half (H1) of fiscal year (FY) 2022/2023.

EGX-listed AMOC registered EGP 1 billion in net profits in the July-December period of FY22/23, compared to EGP 407.50 million in the same period a year earlier, according to a bourse statement on Tuesday.

Sales reached EGP 10.70 billion during the six-month period ended on 31 December 2022, a yearly surge of 51% from EGP 7.10 billion.

As for the separate financials, the company logged EGP 850.69 million in standalone profits in H1-FY22/23, an annual hike of 146% from EGP 345.80 million.

During the first quarter (Q1) of FY22/23, AMOC reported consolidated net profits of EGP 398.60 million, a jump of 74% from EGP 229.60 million in the year-ago quarter.

The company’s sales registered EGP 5.94 billion in Q1 of FY22/23, an increase from EGP 3.72 billion in the same quarter in FY21/22.

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