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Thndr Claps » EGY Claps » Earnings 📈 » Abu Qir Fertilizers sees profits skyrocket 126% in H2-2022

Abu Qir Fertilizers sees profits skyrocket 126% in H2-2022

by Shams Abbas
January 29, 2023

The Clap
Abu Qir Fertilizers Company is reaping the benefits of a liberalized exchange rate and some savvy exporting.

What
The company saw a 126% YoY increase in profits during the latter half of 2022, bringing in a whopping EGP 7.2bn.

So what
The company attributes this success to the depreciation of the pound and a global increase in fertilizer prices. And let’s not forget, they were operating at full capacity.

Now what
Looks like Abu Qir Fertilizers is fertilizing its bank account with all that green.

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