The Clap Alexandria Mineral Oils Company (AMOC) reported profits of EGP 1.22 billion during 2021/2022, a 144.3% increase from the previous year’s profit of EGP 499.28 million.
Sales increased to EGP 18.44 billion in 2021/2022, an increase from EGP 10.18 billion in 2020/2021.
The Deets According to AMOC, the strong earnings were a result of providing the best products and prices in local and global markets. In addition to that, the increase in the prices of petroleum products has increased the revenues and net income.
AMOC added that their ability to reduce their electricity consumption by 4% and their continued cooperation with the EGPC were among the factors for success.