Arab Finance: Abu Qir Fertilizers and Chemicals Industries Company (ABUK) reported a 35.35% year-on-year (YoY) plunge in net profit after tax during the first quarter (Q1) of the fiscal year (FY) 2024/2025, according to the financial statement filed to the Egyptian Exchange (EGX) on October 31st.
The company recorded a net profit after tax of EGP 1.284 billion in the three months ended September 30th, compared to a profit of EGP 1.986 billion in the same period of FY 2023/2024.
Revenues hit EGP 3.621 billion in Q1 FY 2024/2025 from EGP 4.331 billion in Q1 FY 2023/2024, a decline of 16.39% YoY.
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.