Cairo – Mubasher: The consolidated net profits after tax of Alexandria Mineral Oils Company (AMOC) rose by 11% to EGP 1.32 billion during fiscal year (FY) 2022/2023.
The recorded net profits were compared with EGP 1.19 billion in FY21/22, according to the unaudited income statements.
AMOC posted a 31% year-on-year (YoY) higher sales at EGP 24.20 billion during the 12-month period that ended on 30 June 2023, versus EGP 18.44 billion.
Standalone Financial Results
As for the standalone business, the EGX-listed firm generated net profits after tax valued at EGP 1.06 billion in the July 2022-June 2023 period, up 2% from EGP 1.04 billion a year earlier.
Non-consolidated revenues widened by 31% YoY to EGP 23.88 billion in FY22/23 from EGP 18.21 billion.
In the first nine months (9M) of FY22/23, AMOC registered an 86% hike in consolidated net profit after tax to EGP 1.41 billion, compared to EGP 761.98 million in 9M-21/22.
Last June, the company announced its target to achieve net profits after tax worth EGP 603.50 million in FY23/24.
