Pachin Says H1 Profits Fall 31.6%

Paints & Chemical Industries – Pachin (PACH.CA) reported a consolidated net profit of EGP 91.09 million during the first half of 2012, 31.6% down from a year earlier net profit of EGP 133.25 million.

On the other hand, Pachin sales hiked to EGP 838.61 million during H1/2012, compared to EGP 716.71 million during H1/2011.
Gross profit, after excluding the cost of sales, dropped to EGP 120.923 million, compared to EGP 147.909 million.

In the meanwhile, the company posted a standalone net profit of EGP 87.52 million through H1/2012, compared to H1/2011 standalone profit of EGP 98.7 million. 

Elsewhere, Pachin board of directors decided to hold the annual general meeting on Sunday 30/09/2012 so as to discuss the H/2012 financial results as well as dividend distribution.