Egyptian Chemical Industries (KIMA) (EGCH) has switched to profitability in fiscal year (FY) 2021/2022, according to the unaudited financial income statement filed to the Egyptian Exchange (EGX) on August 23rd.

The company has recorded a net profit after tax of EGP 689.32 million in the 12-month period ended June 30th, versus a net loss of EGP 1.42 billion in FY 2020/2021.

The company’s sales soared by 318% year-on-year (YoY) in FY 2021/2022 to EGP 4.44 billion from EGP 1.39 billion.

KIMA is an Egypt-based nitrogen-based fertilizers manufacturing leader and is engaged in the agricultural chemicals industry.

The company produces and distributes various products, including urea, ammonium nitrate, ferrosilicon alloy, liquid ammonium nitrate fertilizer, prill ammonium nitrate fertilizer, liquid ammonia, aqua-ammonia, nitric acid, hydrochloric acid, and silica fume.

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