Abu Qir Fertilizers’ profits drop 27.4% YoY in 3 months
Updated 10/31/2023 9:42:00 AM
Arab Finance: Abu Qir Fertilizers and Chemicals Industries Company (ABUK) reported a 27.37% year-on-year (YoY) plunge in net profit after tax during the first quarter (Q1) of fiscal year (FY) 2023/2024, according to the financial statement filed to the Egyptian Exchange (EGX) on October 31st.
The company recorded a net profit after tax of EGP 2.017 billion in the three-month period ended September 30th, compared to a profit of EGP 2.777 billion in the same period of FY 2022/2023.
Revenues hit EGP 4.331 billion in Q1 FY 2023/2024 from EGP 4.792 billion in Q1 FY 2022/2023, a decline of 9.62% YoY.
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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