IFAP’s standalone profits skyrocket 1540% YoY in Q1 FY2023/24: Egypt

Reuters

Established in 1995, International for Agricultural Crops is a company engaged in farming, trading and distribution of crops and seeds

Staff Writer, Arab Finance

November 16, 2023

PHOTO

The International Company for Agriculture Crops (IFAP) posted a 1,539.7% hike year-on-year (YoY) increase in standalone net profits after tax in the first quarter (Q1) of fiscal year (FY) 2023/2024, according to the firm’s financial statement sent to the Egyptian Exchange (EGX) on September 15th.

The company achieved standalone net profits of EGP 124.277 million in Q1 of the current FY, up from EGP 7.579 million in Q1 of last FY.

Meanwhile, net sales grew to EGP 407.474 million from EGP 160.928 million.

Established in 1995, International for Agricultural Crops is a company engaged in farming, trading and distribution of crops and seeds.

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