MOPCO’s profits up LE 134M in H1 2017

CAIRO- 30 August 2017: Misr Fertilizers Production Company’s (MOPCO) posted LE 538.5 million in profits in the first half (H1) of 2017, up from LE 404.17 million in H1 of 2016.

In a statement to the Egyptian Exchange, MOPCO said it achieved LE 3.67 billion in sales in that period, compared to LE 481 million in sales in the corresponding period last year.

Total revenues of the company registered LE 1.76 billion in the H1 of 2017, up from LE 270 million in the same period last year.

MOPCO was listed on the bourse in September 2016 as part of a wider strategy by the government to list a number of state-owned petroleum and electricity companies as well as banks.

In 2016, MOPCO achieved a net profit of LE 709.9 billion, compared to LE 309.5 billion in 2015, with 129.5 percent growth