Ferchem Masr’s profits up 9% YoY in Q1 2024

Updated 5/19/2024 2:11:00 AM
Ferchem Masr’s profits up 9% YoY in Q1 2024

Arab Finance: Ferchem Masr for Fertilizers and Chemicals (FERC) reported a 9.2% year-on-year (YoY) increase in its net profits after tax in the first quarter (Q1) of 2024, achieving EGP 11.461 million, compared to EGP 10.494 million, as per a filing on May 19th.

Revenues dropped to EGP 78.16 million from January through March, down from EGP 122.521 million over the same period of last year.

Founded in 2001 as a leading joint-stock company, Ferchem Masr is specialized in the blended phosphate fertilizer industry and soluble fertilizers.

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