Cairo – Mubasher: Misr Oils and Soap announced it has turned to losses during fiscal year 2018/2019 as compared to the prior fiscal year, according to the company’s audited financial indicators.
The company has incurred a net loss of EGP 9.4 million for the 12-month period ended June 2019, against a net profit of EGP 1.87 million in the corresponding period of FY17/19, Misr Oils said in a filing to the Egyptian Exchange (EGX) on Sunday.
Revenue grew to EGP 1.5 billion at the end of June, versus EGP 1.38 billion in the previous fiscal year.
In the first nine months of FY18/19, Misr Oils and Soap had reported a 51.2% year-on-year drop in its net profit, recording EGP 11.03 million from EGP 22.62 million.
The company’s revenue stood at EGP 1.095 billion during the July-to-March period of FY18/19, compared to EGP 1.08 billion in the same period of FY17/18
