Kafr El Zayat Pesticides’ consolidated profit jumps 49.2% YoY in 2023 in Egypt

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Kafr El Zayat Pesticides (KZPC) reported a 49.2% year-on-year (YoY) increase in consolidated profit excluding minority interest during 2023, recording EGP 189.816 million, compared to EGP 127.225 million, according to the financial statement filed to the Egyptian Exchange (EGX) on February 11th.

The company’s consolidated operating revenue soared to EGP 2.303 billion last year from EGP 1.562 billion in 2022.

Moreover, standalone net profit after tax grew to EGP 165.015 million in the January-December period from EGP 121.107 million a year ago.

Kafr el Zayat is an Egypt-based company that produces and sells formulations, such as pesticides, insecticides, fungicides, herbicides, rodenticides, and fertilizers to the agricultural and hygienic sectors in Egypt.

The company’s subsidiaries include Kafr el Zayat International for Pesticides and Chemicals, Organic Biotechnology Company, and Chemi Company.