ArabFinance: Ferchem Masr for Fertilizers and Chemicals (FERC) posted a net profit of EGP 22.96 million in 2020, compared to EGP 25.68 million in 2019, according to the company’s filing to the Egyptian Exchange on February 25th.
On a yearly basis, the company’s net profit went down 4% during the first nine months of 2020, recording EGP 21.38 million.
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.