Egypt: AMOC’s consolidated profits hit $29.72mln in H1-23/24

Cairo – The consolidated net profits after tax of Alexandria Mineral Oils Company (AMOC) dropped by 9% to EGP 918.48 million in the first half (H1) of fiscal year (FY) 2023/2024 from EGP 1 billion a year earlier.

The company registered sales valued at EGP 14.27 billion in H1-23/24, an annual increase of 33% from EGP 10.70 billion, according to the consolidated income statements.

Standalone Income Results

Non-consolidated net profits after tax declined by 8% year-on-year (YoY) to EGP 872.03 million in H1-23/24 from EGP 850.69 million.

The standalone revenues hit EGP 14.07 billion as of 31 December 2023, up from EGP 10.57 billion in the year-ago period.

In the first quarter (Q1) of FY23/24, AMOC logged consolidated net profits after tax worth EGP 423.23 million, which marked a 6% YoY rise from EGP 398.60 million.

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