Arab Finance: Ferchem Masr for Fertilizers and Chemicals (FERC) has reported a 46.25% year-on-year (YoY) increase in net profit after tax during the first quarter (Q1) of 2022, registering EGP 3.031 million, according to financial statement filed to the Egyptian Exchange (EGX) on May 23rd.
Revenue grew to EGP 19.731 million in Q1 2022 from EGP 17.437 million in Q1 2021.
Founded in 2001 as a leading joint-stock company, Ferchem Masr is specialized in the blended phosphate fertilizer industry and soluble fertilizers.