Ferchem Masr sees lower net profit

Updated 2/25/2021 11:13:00 AM

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.