Egyptian paintmaker Pachin said on Sunday it declared a cash dividend of LE 4.5 ($0.79) for the 2009/10 period.
Full-year net profit at Egypt’s largest listed paint maker jumped 70 percent to LE 154.7 million, and net sales rose to LE 703.8 million.
Pachin’s chairman said in November Egypt’s paint market was growing at 2 percent above the economic growth rate, as housing demand remains buoyant. He said Egypt’s paint market would grow to LE 1.8 billion by 2013 from LE 1.2 billion in 2008.
