AMOC loss shrinks by 93%

ArabFinance: Alexandria Mineral Oils Company (AMOC) reported a 93% Year on Year decrease in its consolidated net loss in the first three months of the fiscal year (FY) 2020/2021, according to the company’s November 15^thfinancial statements filed to the Egyptian Exchange.

Consolidated net loss before minority interest stood at EGP 34,872,977 in the July-September period of 2020, compared to EGP 488,281,200 achieved in the prior-year period.

Standalone net loss reached EGP 53,267,841 in the July-September period of 2020, against EGP 31,804,525 posted in the corresponding period a year earlier.

The company attributed the loss to the decline in revenues of investments and credit interests which amount to EGP 184 million.

In August, the EGX added AMOC to EGX 30 index.

AMOC is an Egypt-based company that operates in the petroleum industry. The company specializes in the production of essential mineral oils, paraffin wax and its derivatives, naphtha and butane, as well as distributes and markets them in Egypt and abroad.

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