Egypt

Alexandria Mineral Oils Co. (AMOC) Turns to Loss

Published on : 2021-02-06

ArabFinance: Alexandria Mineral Oils Co. (AMOC) suffered a consolidated net loss of EGP 42.562 million during the fiscal year (FY) ended December 31st 2020, according to the company’s February 3rd unaudited financial statements filed to the Egyptian Exchange.

In 2019, the company achieved a net profit of EGP 108.433 million.

AMOC attributed the turn to loss to the drop in sales.

The listed company reported a consolidated net loss before minority interest of EGP 34.87 million in July-September 2020, compared to EGP 488.28 million in the prior-year period.

AMOC is an Egypt-based company that operates in the petroleum industry. The company specializes in the production of essential mineral oils, paraffin wax and its derivatives, naphtha, and butane, as well as distributes and markets them in Egypt and abroad.

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