Mopco profits rise by 26% in light of the Corona pandemic

Mopco profits rise by 26% in light of the Corona pandemic

The consolidated profits of Misr Fertilizers Production Company - MOPCO for the first half of 2020 increased by 26 percent, which is a record achievement and this success lies in the policies followed by the conscious management of the company that works hard to raise the company's production rate, pointing out that in light of these indicators, Therefore, better movement and positive results are expected for the second half of the current fiscal year.

The company declared that it recorded a net profit of 1.184 billion pounds since the beginning of January until the end of last June, compared to 938 million pounds during the same period last year. This is due to the decrease in financing expenditures for the period by 434 million pounds, the increase in financing revenues for the period by 19.6 million pounds, and the decrease in income tax of 186 million pounds.

Commenting on this, Mr. Accountant / Hisham Noureddine, Chairman and Managing Director, said: “We were able to surpass the first half of this challenging year with coherent financial capabilities and strong performance on all levels. The current results clearly demonstrate our position as a leading fertilizer company with an exceptional position between All companies in the Middle East.

Mopco profits rise by 26% in light of the Corona pandemic