Misr Chemical Industries posts 191% YoY profit hike in 6 months
Misr Chemical Industries Company (MICH) reported a 191% year-on-year (YoY) hike in net profit after tax for the first half (H1) of fiscal year (FY) 2022/2023, according to a statement filed to the Egyptian Exchange (EGX) on January 29th.
The company recorded a net profit of EGP 280.58 million in H1 FY 2022/2023, compared to a profit of EGP 96.48 million in the prior-year period.
Sales totaled EGP 455.84 million in the six months to December 31st, 2022, up from EGP 270.56 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.