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.