ArabFinance: International Company for Agricultural Products (IFAP) has reported around 539.06% year-on-year (YoY) hike in net profits after tax during the first nine months of the fiscal year 2021/2022, recording EGP 95.303 million, according to financial statements filed to the Egyptian Exchange (EGX) on Monday.

The company’s net sales surged to EGP 397.16 million in the July-March period, from EGP 352.862 million in the comparative period the year before.

International for Agricultural Products is engaged in farming, trading, and distribution of crops and seeds. The company purchases cotton flowers and cotton seeds from producers, undertakes contracting activities with cotton ginning companies, and trades in cotton fibers and seeds.