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.

Omar El Shorafa

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