Abu Qir Fertilizers Net Profit Hits EGP 1.4 Bln, Dividends EGP 13/Share

Abu Qir Fertilizers Co. – AFC (ABUK.CA) reported Tuesday a net profit of EGP 1.383 billion during the first half of 2012, 2.8% higher than a year earlier net profit of EGP 1.345 billion.

Net sales hiked to EGP 3.318 billion during H1/2012, compared to EGP 2.954 billion during H1/2011.

Gross profit – after excluding the cost of sales – rose to EGP 1.658 billion , compared to EGP 1.521 billion.

Operating profit – after excluding the total expenses – dipped to EGP 1.217 through H1/2012, compared to EGP 1.263 billion  a year earlier.

Basic earnings per share has reached EGP 13.73 during H1/2012, compared to EGP 13.32 through H1/2011.

Moreover, the working capital rose to EGP 2.188 billion during H1/2012, compared to EGP 2.060 billion a year earlier. Total investments surged to EGP 3.281 billion, compared to EGP 3.213 billion.

Meanwhile, AFC’s board of directors suggested distributing a coupon of EGP 13.2, compared to EGP 22 a year earlier.