AMOC’s consolidated profit rises 74% YoY in Q1 FY 2022/2023
Updated 10/27/2022 10:15:00 AM
Arab Finance: Alexandria Mineral Oils Company (AMOC) posted a 74% year-on-year (YoY) growth in consolidated net profit after tax for the first quarter (Q1) of (FY) 2022/2023, according to the unaudited financial income statements filed to the Egyptian Exchange (EGX) on October 27th.
Consolidated net profit after tax amounted to EGP 398.608 million in the three-month period ended September 30th, compared to EGP 229.664 million in the same period of FY 2021/2022.
The company generated consolidated sales of EGP 5.94 billion in the period starting July 1st to September 30th 2022, surging by 60% YoY from EGP 3.72 billion.
Likewise, AMOC’s standalone net profit after tax rose by 78% YoY to EGP 346.348 billion in Q1 FY 2022/2023 from EGP 194.583 million.
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.
