ArabFinance: Abu Qir Fertilizers reported a 3.6% Year on Year rise in its net profit in the second half of 2020, according to the companys February 1stfinancial statements filed to the Egyptian Exchange.

Net profit stood at EGP 1,491,491,427 in the July-December 2020, compared to EGP 1,439,800,568 achieved in the prior-year period.

Pharos Holding estimated the fair value of Abu Qir Fertilizers share at EGP 23.00 per each, with an overweight recommendation.

Abu Qir Fertilizers is an Egypt-based company engaged in the agricultural chemicals sector. The company focuses on the production, distribution, and export of fertilizers, chemicals, and related products.

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