Misr Chemical Industries posts 174.6% YoY profit hike in 5 months

Misr Chemical Industries Company (MICH) reported a 174.6% year-on-year (YoY) hike in net profit for the first five months of fiscal year (FY) 2022/2023, according to a statement filed to the Egyptian Exchange (EGX) on December 25th.

The company recorded a net profit of EGP 219.03 million in the five-month period ended November 30th, compared to a profit of EGP 79.73 million in the same period of FY 2021/2022.

Misr Chemical Industries owns a manufacturing plant that produces a range of chemical products including liquid caustic soda, caustic soda flakes, liquid chlorine, hydrochloric acid, and bleaching powder.