Egyptian Chemical Industries – KIMA (EGCH.CA) reported on Monday a growth of 76.6% in its net profit for the fiscal year of 2011/2012 which ended on June 30th, 2012. KIMA had a net profit of EGP 131.317 million during FY2011/12, compared to EGP 74.353 million a year earlier.
KIMA’s revenues for FY2011/12 dropped to EGP 215.092 million, compared to EGP 218.989 million a year earlier. The gross profit after excluding the cost of sales also dipped to EGP 36.075 million, compared to EGP 41.997 million.
KIMA’s higher revenues from financial investments in sister companies, which surged to EGP 53.734 million compared to EGP 47.258 million a year earlier, have contributed to its FY2011/12 profits. Revenues from other financial investments also hiked to EGP 26.887 million, compared to EGP 70.7 thousand.
