Egypt: Mopco logs $128.2mln consolidated profits in H1-23

The consolidated net profits after tax of Misr Fertilizers Production Company (Mopco) reached EGP 3.97 billion in the first half (H1) of 2023.

The recorded net profits were higher by 6% than EGP 3.73 billion in H1-22, according to the financial results.

Mopco registered sales amounting to EGP 9.41 billion in the first six months (6M) of 2023, up 8% year-on-year (YoY) from EGP 8.71 billion.

The basic earnings per share (EPS) increased to EGP 17.33 in H1-23 from EGP 16.30 a year earlier.

Meanwhile, the company’s standalone net profits after tax hiked by 67% YoY to EGP 4.77 billion in H1-23 from EGP 2.85 billion.

In the first quarter (Q1) of 2023, Mopco logged consolidated net profits after tax valued at EGP 2.45 billion, up 17% from EGP 2.08 billion in H1-22, including minority interest.