Arab Finance: Ferchem Masr for Fertilizers and Chemicals (FERC) has reported a 246.26% year-on-year (YoY) increase in net profit after tax during the first quarter (Q1) of 2023, according to financial statement filed to the Egyptian Exchange (EGX) on May 30^th.

Net profits after tax amounted to EGP 10.494 million during the January-March period of this year, up from EGP 3.030 million in the first three months of 2022.

Revenue grew to EGP 122.521 million in Q1 2023 from EGP 19.731 million in Q1 2022.

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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