AMOC sees higher consolidated profits at $27.2mln in 9M-23/24

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Alexandria Mineral Oils Company (AMOC) logged consolidated net profits after tax amounting to EGP 1.31 billion in the nine months (9M) of fiscal year (FY) 2023/2024.

The recorded net profits were higher by 19% year-on-year (YoY) than EGP 1.09 billion, according to the income results.

Sales jumped by 28% to EGP 22.74 billion in 9M-23/24 from EGP 17.73 billion as of 31 March 2023.

Standalone Income Results

AMOC generated EGP 983.35 million in standalone net profit during the July 2023-March 2024 period, up 11% from EGP 887.49 million in 9M-22/23.

Non-consolidated revenues reached EGP 22.51 billion in 9M-23/24, marking an annual hike of 28% from EGP 17.53 billion.

The board members greenlighted the consolidated and standalone financials on 28 April 2024.

In the first half (H1) of FY23/24, the consolidated net profits fell by 9% YoY to EGP 918.48 million from EGP 1 billion, while the standalone net profits shrank by 8% YoY to EGP 782.03 million from EGP 850.69 million.