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Mopco achieves EGP 830m profit in 2019 initial standalone results
17 - Mon - Feb - 2020
Mopco achieves EGP 830m profit in 2019 initial standalone results

The standalone financial indicators for 2019 of Misr Fertilizers Production Co (Mopco) showed a 43.8% drop in net profits to EGP 830.42 million from EGP 1.48 billion in 2018.

The decline in net profits resulted from a foreign exchange loss of EGP 450 million due to an exchange rate difference compared to 2018, according to the company’s disclosure to the Egyptian Exchange (EGX) on Sunday.

The company’s sales retreated to around EGP 2.41 billion in 2019, compared to EGP 2.64 billion in the prior year.

It is noteworthy to mention that during the first nine months of 2019, the company’s consolidated profits reached EGP 1.25 billion from EGP 988.16 million in the same period of 2018, including minority shareholders’ rights. 

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