Abu Qir Fertilizers profit falls 15% in FY19/20 initial results

The company’s revenues slipped to $493mln

  

Cairo –  The unaudited financial results of Abu Qir Fertilizers showed a 14.8% year-on-year (YoY) decrease in its net profits to EGP 2.69 billion during fiscal year 2019/2020, down from EGP 3.16 billion.

The company’s revenues slipped to EGP 7.88 billion in the 12-month period ended on 30 June, compared to EGP 8.58 billion in FY18/19, according to a bourse disclosure on Sunday.

It is noteworthy to mention that in the first nine months of FY19/20, the company achieved net profits of EGP 2.13 billion, down from EGP 2.59 billion in the prior-year period.

Source: Mubasher

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