Abu Qir Fertilizers’ profits hike to $381mln in H1-22/23 unaudited financials

Abu Qir Fertilizers achieved net profits after tax worth EGP 7.23 billion in the first half (H1) of fiscal year (FY) 2022/2023, higher by 125.86% than EGP 3.20 billion during the same period in the previous FY.

The company generated sales worth EGP 11.23 billion in the July-December 2022 period, an annual jump of 79.87% from EGP 6.24 billion, according to the unaudited financial results that were approved by the board members during their 25 January meeting.

Furthermore, the earnings per share (EPS) soared by 124.88% to EGP 4.79 in H1-22/23 from EGP 2.13 in H1-21/22.

In the first quarter (Q1) of FY22/23, Abu Qir Fertilizers recorded a 114.70% year-on-year (YoY) leap in net profit to EGP 2.77 billion from EGP 1.29 billion.

Meanwhile, the revenues hiked to EGP 4.79 billion in the three-month period that ended on 30 September 2022, compared to EGP 2.65 billion during Q1-21/22.