KIMA’s profit drops 90% YoY in 9 months

Updated 6/13/2024 11:49:00 AM
KIMA’s profit drops 90% YoY in 9 months

Arab Finance: Egyptian Chemical Industries (KIMA) posted a 90% year-on-year (YoY) decline in net profit for the first nine months of fiscal year (FY) 2023/2024, according to the company’s financial income statement filed to the Egyptian Exchange (EGX) on June 13th.

Net profit amounted to EGP 102.280 million in the nine-month period of FY 2023/2024, compared to EGP 1.105 billion in the same period of FY 2022/2023.

The company recorded revenues of EGP 4.612 billion in the nine-month period ended March 31st, compared to EGP 5.134 billion in the same period of FY 2022/2023, a decrease of 10% YoY.

KIMA is an Egypt-based nitrogen-based fertilizers manufacturing leader and is engaged in the agricultural chemicals industry.

The company produces and distributes various products, including urea, ammonium nitrate, ferrosilicon alloy, liquid ammonium nitrate fertilizer, prill ammonium nitrate fertilizer, liquid ammonia, aqua-ammonia, nitric acid, hydrochloric acid, and silica fume.

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