Ferchem Masr’s profits surge 246% YoY in Q1

Updated 7/19/2023 8:41:00 AM
Ferchem Masr’s profits surge 246% YoY in Q1

Arab Finance: Ferchem Masr for Fertilizers and Chemicals (FERC) reported a 246.3% year-on-year (YoY) increase in its net profits after tax in the first quarter (Q1) of 2023, achieving EGP 10.494 million, compared to EGP 3.030 million, as per a filing on July 18th.

Revenues reached EGP 122.521 million from January through March, up from EGP 19.731 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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