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Q3 Results+Internal audit Committee+auditor report

Thu, 16th May 2019 13:06

RNS Number : 2981Z
Alexandria Mineral Oils Co. S.A.E.
16 May 2019

Audit Committee Meeting Minutes

For the period from July 1st, 2018 to March 31st, 2019

Examination of the financial statements of the company in March 31st , 2019 and ensure that existing laws are met according to the companies law No. 159 for the year 1981 and its executive regulations and the Capital Market Law No. 95 for the year 1992 and its implementing regulations and disclosure requirements of the Egyptian Stock Exchange

Important Business issues that had been done:

The total investment of about 2.801 billion pounds and the total equity of about 2.738 billion pounds and a net profit of about 329.332 Million and net sales of 11.142 billion and the cost of sales of 10.656 billion pounds, and the total profit of 530.857 million pounds.

As it has been confirmed that the financial statements are made in accordance with the Egyptian Accounting Standards as well as to ensure that an independent consultant to prepare a report for the transactions of the related parties and to see the report of reviewing the current usage (spare parts) and the purchase tenders (local and international)

The Committee also recommend the Board of Directors report and Financial Statements to be presented to the Board for approval

here below you can find the financial statments and the Internal auditor report.

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