The Clap Abu Qir (ABUK) reported EGP 9.1 billion in net income for the financial year 2021-2022.
The Deets Abu Qir has reported EGP 9.1 billion net income for 2021-2022, in comparison to EGP 3.5 billion the year before. This equates to a 158% increase in 1 year.
How did profit suddenly jump? In the earnings release, Abu Qir identified several reasons explaining the profit jump.
-All plants continued to operate at full capacity. -An increase in the average price of exports. -Good marketing and getting the best prices in new markets. -Liberalization of the EGP against the dollar. -Increased investment income coming from companies Abu Qir invested in.