ArabFinance: Misr Kuwait Investment and Trading Company (MKIT) achieved a net profit after tax worth EGP 98,139 during the second quarter (Q2) of 2020, according to a disclosure to the Egyptian Exchange.
The recorded income was versus a loss of EGP 74,668 during the April-June 2019 period.
Net sales decreased by 9.6% Year on Year (YoY) to EGP 6.84 million in Q2 2020 from EGP 7.57 million in Q2 2019.
As for the first half (H1) that ended on June 30th 2020, Misr Kuwait incurred a net loss of EGP 164,015. This marked an 11.7% YoY rise from EGP 146,808 in H1 2019.
Net sales during the January-June 2020 period decreased by 14.6% YoY to EGP 13.43 million, compared to EGP 15.74 million in the same period a year earlier.
The company suffered a loss of EGP 541,978 during fiscal year 2019.
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