Abu Qir Fertilizers’ profits down 43% YoY in H1 FY2023/24

Getty Images

The company recorded net profits after tax of EGP 4.014 billion in the six-month period ended December 31st, compared to EGP 7.046 billion in the same period of 2022

Staff Writer, Arab Finance

February 1, 2024

PHOTO

Abu Qir Fertilizers and Chemicals Industries Company (ABUK) posted a 43.03% year-on-year (YoY) plunge in net profits after tax during the first half (H1) of fiscal year (FY) 2023/2024, the firm disclosed on February 1st.

The company recorded net profits after tax of EGP 4.014 billion in the six-month period ended December 31st, compared to EGP 7.046 billion in the same period of 2022.

Meanwhile, revenues fell 23.31% YoY to EGP 8.616 billion from EGP 11.234 billion.

Abu Qir Fertilizers is an Egypt-based company engaged in the agricultural chemicals sector. The company focuses on the production, distribution, and export of fertilizers, chemicals, and related products.

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

ZAWYA NEWSLETTERS

RELATED ARTICLES

ZAWYA NEWSLETTERS

LATEST VIDEO