Abu Qir Fertilizers did really well in the first half of the 2022/2023 fiscal year, seeing profits increase by 125.8% despite revenue only increasing 79.8% YoY.
The company’s production volume increased 19% YoY, helping it maintain its market share.
Abu Qir attributed its results to its factories running at full capacity & a global hike in the prices of its products.
That’s not to say there wasn’t an increase in the company’s expenses, with both interest expenses & salaries driving the increase in costs.
Leave a Reply