Thndr Claps » EGY Claps » Earnings 📈 » Sky high profits from Abu Qir 🚀
The ClapAbu Qir (ABUK) recorded a YoY increase in profits by 158% during 2021/2022, to reach EGP 9.05 billion, while revenues also increased by 85% to reach EGP 16.3 billion.JustificationThe increase in revenues and profits is due to the global increase in prices, as well as maintenance of the company’s factories which allowed them to continue to operate at a good level.The company also diversified its product offerings and marketed them well to different markets, leading to an increase in sales. The company’s increase in sales, as well as a decrease in operating expenses, lead to a huge jump in profits.What this ShowsThese earnings show:-Abu Qir’s factories work efficiently.-The company’s ability to store urea and take advantage of increasing prices to export.
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