Pachin Says Consolidated Net Profit 25% Down; H1
Paints & Chemical Industries – Pachin (PACH.CA) reported Monday a consolidated net profit of EGP 96.797 million during the first half of 2012, 25% down from a year earlier net profit of EGP 129.268 million.
Pachin’s net sales rose to EGP 838.608 million during H1/2012, compared to EGP 716.705 million during H1/2011.
Gross profit, after excluding the cost of sales, fell to EGP 120.623 million, compared to EGP 147.909 million.
Shareholders’ equity has reached EGP 91.093 million during H1/2012, compared to EGP 123.245 million a year earlier.
Meanwhile, Pachin posted a standalone net profit of EGP 87.515 million through H1/2012, compared to H1/2011 standalone profit of EGP 98.700 million.
Worth mentioning, Pachin had announced on August 28th its unaudited business results which revealed a decline of 31.6% in its consolidated net profit during H1/2012.
