Cairo – Mubasher: Misr Oils and Soap announced swinging to losses in fiscal year 2018/2019, the company's adjusted financial statements showed
The Egyptian firm suffered net losses of EGP 15.5 million in the twelve-month period ended 30 June, against net profits of EGP 1.87 million a year earlier, according to a statement to the Egyptian Exchange (EGX) on Sunday.
Meanwhile, the company’s revenues rose to EGP 1.49 billion in FY18/19, compared to EGP 1.38 billion in FY17/18.
During July, the company’s net profit before taxes amounted to EGP 1.15 million, compared to around EGP 501,000 in the same month a year earlier.
