Abu Qir Fertilizers Egypt registers 86% higher profits in 9M-22/23

Abu Qir Fertilizers witnessed an annual hike of 86.07% in net profit after tax to EGP 12.95 billion during the first nine months (9M) of fiscal year (FY) 2022/2023, versus EGP 6.96 billion.

The sales increased by 43.66% year-on-year (YoY) to EGP 17.30 billion in 9M-22/23 from EGP 12.04 billion, according to the income statements.

Earnings per share (EPS) amounted to EGP 8.58 as of 31 March 2023, higher by 85.31% YoY than EGP 4.63.

It is worth noting that the company’s board members greenlighted the financial results during their meeting that was held on 18 April 2023.

During the first half (H1) of FY22/23, the EGX-listed firm generated EGP 7.23 billion in net profit after tax, a 125.86% leap from EGP 3.20 billion in H1-21/22.