Misr Chemical Industries reports 32% YoY profit increase in Q1 FY2023/24

Misr Chemical Industries reports 32% YoY profit increase in Q1 FY2023/24

Arab Finance: Misr Chemical Industries Company (MICH) saw a 32% year-on-year (YoY) hike in its net profits after tax during the first quarter (Q1) of fiscal year (FY) 2023/2024, hitting EGP 136.744 million, compared to EGP 103.661 million, according to the unaudited financial statement sent to the Egyptian Exchange (EGX) on October 29th.

The firm generated EGP 240.332 million in sales during the July-September period of this year, 22% up from EGP 197.770 million during the Q1 of FY 2022/2023.

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.