Arab Finance: 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 1^st.

The company recorded net profits after tax of EGP 4.014 billion in the six-month period ended December 31^st, 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.

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