Egypt’s Pachin records six percent net profit drop in 1Q 2003/2004
Egypt’s Paints and Chemicals Industries (Pachin) recorded a six percent net profit drop in the first quarter of 2003/2004 reaching 32.2 million Egyptian pounds ($5.5 million) compared to EP 34.3 million during the same period last year.
Pachin was established in 1958 as a joint stock Company and was nationalized in 1961. The company’s main activity is the production of paints, varnishes and printing inks. The company’s main brands include Saniton, Syntal, Dyroton, Flott and Mattat.
The Egyptian paint market is estimated at around $150 million. Pachin's market share is currently estimated at 40 percent. — (menareport.com)
© 2004 Mena Report (www.menareport.com)