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Misr Chemical Industries' financial indicators showed that corporate profits had dropped 43.6% from one year to the next (2018-2019).
The company said in a statement to the Egyptian Stock Exchange today that it has posted a net profit of 78.54 million pounds since early July 2018 until the end of June 2019, compared to a profit of 139.3 million pounds during the previous fiscal year.
Misr Chemical Industries has attributed the decline in annual profits to an increase in electricity generation and other sources of about 20 million pounds, in addition to the company's low sales prices of about 40 million of books.
Revenues fell over the last fiscal year to reach EGP 362.7 million at the end of June, compared to EGP 400.03 million in the prior year.
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