Abu Qir Fertilizers and Chemical Industries Company, a major player in Egypt’s petrochemicals sector, reported a 20% increase in its sales during the first nine months of fiscal year (FY) 2024/25 compared to the corresponding period in 2023/2024 to reach EGP 16.9 billion. The company’s gross profits came at  EGP 7.7 billion, compared to EGP 6.9 billion, in the first nine months of FY 2023/24. 

However, the net profit after tax witnessed a 35 % decline during the same period to EGP7.8 billion on the back of differences in forex calculations of the company’s revenues following the March devaluation of the pound which saw the value of the currency versus the dollar dropping from EGP30.8 to EGP49.4, according the company’s note to the Egyptian Stock Exchange. The company exports different kinds of fertilizers to 40 markets, according the company’s note to the Egyptian Stock Exchange (EGX).

Exporting different kinds of fertilizers to 40 markets, Abu Qir Fertilizers and Chemical Industries is one of the major producers of nitrogenous fertilizer in the Middle East and the world. It is also the largest producer of Nitrogen fertilizers in Egypt.