Egyptian Chemical Industries (KIMA) reported a 77% year-on-year increase in net profits after tax during the fiscal year (FY) 2022/2023, according to the financial statement filed to the Egyptian Exchange (EGX) on September 27th.
The company’s profits after tax rose to EGP 1.151 billion in the last FY from EGP 651.486 million in FY 2021/2022.
Sales surged 49% YoY to EGP 6.612 billion in FY 2022/2023, compared to EGP 4.441 billion in the FY before.
KIMA is an Egypt-based chemical producer, founded in 1956 to produce nitrogenous manure for the Southern Valley by using the elector-hydraulic power generated by the Aswan Dam.
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