Arab Finance: Abu Qir Fertilizers and Chemicals Industries Company (ABUK) reported a 115.37% year-on-year (YoY) surge in net profit after tax during the first quarter (Q1) of fiscal year (FY) 2022/2023, according to the financial statement filed to the Egyptian Exchange (EGX) on November 14th.
The company recorded a net profit after tax of EGP 2.77 billion in the three-month period ended September 30th, compared to a profit of EGP 1.28 billion in the same period of FY 2021/2022.
Revenues grew to EGP 4.79 billion in Q1 FY 2022/2023 from EGP 2.65 billion in Q1 FY 2021/2022.
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.