Abu Qir Fertilizers’ profits surge 62% YoY in FY 2022/23

Updated 8/1/2023 8:14:00 AM
Abu Qir Fertilizers’ profits surge 62% YoY in FY 2022/23

Arab Finance: Abu Qir Fertilizers and Chemicals Industries Company (ABUK) posted a 61.7% year-on-year (YoY) increase in net profits after tax in the fiscal year (FY) 2022/2023, according to the financial indicators filed to the Egyptian Exchange (EGX) on July 31st.

The firm earned EGP 14.640 billion in net profits in FY 2022/2023, up from EGP 9.054 billion in the previous FY.

Meanwhile, sales recorded a 32% annual surge to EGP 21.558 billion from EGP 16.331 billion in FY 2021/2022.

Abu Qir Fertilizers is an Egypt-based company engaged in the agricultural chemicals sector. The company focuses on the production, distribution, and export of fertilizers, chemicals, and related products.

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