Ferchem Masr posts 102.1% YoY growth in H1 profit

Updated 8/16/2022 2:58:13 PM

Arab FinanceFerchem Masr for Fertilizers and Chemicals (FERC) reported a 102.1% year-on-year (YoY) surge in net profit after tax during the first half (H1) of 2022, according to financial statement filed to the Egyptian Exchange (EGX) on August 16th.

Net profits stood at EGP 17.32 million in H1 2022, compared to EGP 8.57 million in the year-ago period.

On the other hand, revenues dwindled to EGP 79.79 million in H1 2022 from EGP 96.83 million in H1 2021.

Founded in 2001, Ferchem Masr is a specialized company in the blended phosphate fertilizer industry and soluble fertilizers.