Cairo – Mubasher: Abu Qir Fertilizers logged net profits after tax valued at EGP 9.16 billion in fiscal year (FY) 2023/2024, down 4.32% year-on-year (YoY) from EGP 9.56 billion.
The revenues shrank by 14.06% to EGP 18.52 billion during the 12-month period that ended on 30 June 2024 from EGP 21.55 billion in FY22/23.
The lower sales were attributed to a drop in average export prices as well as a decrease in sales volume due to a plunge in production.
Meanwhile, the basic earnings per share (EPS) declined by 4.18% YoY to EGP 9.16 in FY-23/24 from EGP 9.56.
The board members of Abu Qir Fertilizers approved the company’s financial results on 31 July 2024.
In the first nine months (9M) of FY 23/24, the EGX-listed firm posted 3.16% YoY lower net profits after tax at EGP 12.14 billion, compared to EGP 12.53 billion.
