Egyptian paintmaker Pachin said on Monday that profit after taxes rose 17 percent in the July-Sept quarter. Profit rose to LE 63.7 million ($11.2 million) from LE 54.3 million a year earlier, while net sales rose to LE 207.2 million from LE 202.8 million, it said in board minutes released by the stock exchange.
Pachin’s chairman said last year that Egypt’s paint market would grow to LE 1.8 billion by 2013, spurred by buoyant housing demand.
