Cairo – Mubasher: Abu Qir Fertilizers reported net profits of EGP 2.44 billion in the first nine months of fiscal year (FY) 2020/2021, up by 14.5% year-on-year (YoY) from EGP 2.13 billion, the unaudited financial results showed.
The revenues rose to EGP 6.3 billion in the nine-month period ended 31 March, compared to EGP 5.8 billion in the corresponding period a year earlier, the company said in a bourse disclosure on Tuesday.
The rise in net profits was ascribed to higher volumes of production and sales, higher prices of export prices, as well as the flexible selling and marketing policies adopted by the company to achieve the best results and enter new markets.
During the first half (H1) of FY20/21, the company achieved net profits of EGP 1.49 billion, up from EGP 1.43 billion in H1 of FY19/20.
The revenues grew to EGP 4.03 billion in the July-December period of 2020, compared to EGP 3.99 billion in the same period in 2019.
