Cairo – Mubasher: The net profits after tax of Abu Qir Fertilizers plummeted by 35.35% to EGP 1.28 billion in the first quarter (Q1) of fiscal year (FY) 2024/2025 from EGP 1.98 billion in Q1-23/24.
The decline in net profit after tax was due to a decrease in sales value and higher operating supplies costs, which were driven by exchange rate fluctuations between the Egyptian pound and the dollar.
Meanwhile, the company’s revenues amounted to EGP 3.62 billion in Q1-24/25, lower by 16.39% year-on-year (YoY) than EGP 4.33 billion.
Earnings per share (EPS) stood at EGP 0.86 as of 30 September 2024, down 36.30% YoY from EGP 1.35.
The board members approved the company’s financial results for the three-month period during their meeting on 7 November 2024.
In the 12-month period that ended on 30 June 2024, the EGX-listed firm posted 4.32% lower net profits after tax at EGP 9.16 billion, compared to EGP 9.56 billion in FY22/23.
