The International Company for Agriculture Crops (IFAP) posted a 6.2 % year-on-year (YoY) downtick in consolidated net profits attributable to the parent company in the first nine months of the fiscal year (FY) 2023/2024 to EGP 362.841 million from EGP 386.892 million, the firm stated.

Likewise, net sales fell to EGP 1.578 billion from July to March this FY, versus EGP 1.952 billion over the same period a year earlier.

The company logged EGP 350.442 million in standalone net profits after tax in the nine months to March 31st, compared to EGP 232.888 million in the corresponding period last FY.

Established in 1995, International for Agricultural Crops is a company engaged in farming, trading, and distribution of crops and seeds.

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