Arab Finance: The board of directors of Alexandria Mineral Oils Company (AMOC) has approved the proposed planning budget for fiscal year (FY) 2022/2023, with an expected net profit after tax of EGP 531.971 million, according to a filing to the Egyptian Exchange (EGX) on June 27th.

Under the FY 2022/2023 budget, the company is anticipated to generate revenues of EGP 18.126 billion.

Moreover, the board has endorsed the proposed capital budget with a total amount of around EGP 333 million.

It is worth noting that AMOC recorded a consolidated net profit after tax amounted to EGP 745.29 million in the nine-month period ended March 31st, compared to a profit of EGP 94.36 million in the same period of FY 2020/2021.

AMOC is an Egypt-based company that operates in the petroleum industry. The company specializes in the production of essential mineral oils, paraffin wax and its derivatives, naphtha, and butane, as well as distributes and markets them in Egypt and abroad.