Cairo – Mubasher: Abu Qir Fertilizers recorded a 30% year-on-year profit growth during fiscal year 2018/2019, supported by higher sales.

Net profits hiked to EGP 3.15 billion during the twelve-month period ended 30 June, compared to EGP 2.4 billion a year earlier, the company said in a statement to the Egyptian Exchange (EGX) on Sunday.

Sales rose to EGP 8.5 billion in FY18/19 from EGP 7.55 billion in FY17/18.

During the first nine months of FY18/19, Abu Qir Fertilizers logged a net profit of EGP 2.59 billion, compared to EGP 1.94 billion in the prior-year period.