Arab Finance: Egyptian Chemical Industries (KIMA) posted a 94% year-on-year (YoY) decline in net profits after tax for the fiscal year (FY) 2023/2024, according to the company’s financial indicators.

Net profits amounted to EGP 70.093 million last FY, compared to EGP 1.151 billion a year earlier.

Meanwhile, the company’s revenues fell to 6.532 billion from EGP 6.612 billion.

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, prilled ammonium nitrate fertilizer, liquid ammonia, aqua-ammonia, nitric acid, hydrochloric acid, and silica fume.

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