ICEC

Egypt’s Abu Qir Fertilizers 2017 profits rise 14%

Egypt-based Abu Qir Fertilizers and Chemical Industries Company’s profits rose by 14 percent, reaching 1.24 billion Egyptian pounds ($70 million) in 2017 from 1.09 billion pounds in 2016, financial statements announced Monday.

Revenues jumped to 3.6 billion pounds, compared with 2.28 billion pounds.

During the three months ended in September 2017, the company achieved profits worth 467.11 million pounds up from 240.02 million pounds during the same period a year ago.

Revenues increased to 1.48 billion pounds during the first quarter of financial year 2017/2018, compared to 876.8 million pounds during the same period of financial year 2017/2016.

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