Ferchem Masr reports lower profit
Updated 11/16/2020 11:27:55 AM
ArabFinance: Ferchem Masr for Fertilizers and Chemicals reported a 4% Year on Year decline in its net profit in the first nine months of 2020, according to the company’s November 15th financial statements filed to the Egyptian Exchange.
Net profit after tax stood at EGP 21,388,516 in the January-September period of 2020, compared to EGP 22,290,068 achieved in the prior-year period.
Earlier, the company stated that Abu Zaabal Fertilizers and Chemicals Company rented an area of 5,000 square meters from the former's land plot in Monufia Governorate.
Founded in 2001 as a leading joint-stock company, Ferchem Masr is specialized in the blended phosphate fertilizer industry and soluble fertilizers were added later to support the industry.
