KIMA’s profits down 25% YoY in Q1 FY2023/24: Egypt

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KIMA is an Egypt-based chemical producer

Staff Writer, Arab Finance

November 24, 2023

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Egyptian Chemical Industries (KIMA) reported a 25% year-on-year (YoY) drop in net profits after tax during the first quarter (Q1) of fiscal year (FY) 2023/2024, according to the financial indicators on November 23rd.

The company’s profits after tax fell to EGP 350.468 million in Q1 of the current FY from EGP 471.220 million in Q1 of last FY.

Sales slipped 9% YoY to EGP 1.422 billion in three months to September 30th, versus EGP 1.565 billion.

KIMA is an Egypt-based chemical producer, founded in 1956 to produce nitrogenous manure for the Southern Valley by using the elector-hydraulic power generated by the Aswan Dam.

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