Cairo – Mubasher: Misr Oils and Soap announced turning to losses during fiscal year 2018/2019, according to the company’s unaudited financial results.
The company suffered losses of EGP 10.125 million in the twelve-month period ended 30 June, against a profit of EGP 1.8 million in the year-ago period, according to a filing to the Egyptian Exchange (EGX) on Thursday.
The Egyptian firm attributed the negative turn in its FY18/19 financials to changes in the prices of oils as well as concluding a real estate tax settlement of EGP 5.900 million from July 2018 to last June.
Meanwhile, revenues stood at EGP 1.502 billion in FY18/19 from EGP 1.389 billion in FY17/18.
