Cairo – Mubasher: The unaudited financial results of Abu Qir Fertilizers posted an 18% year-on-year (YoY) profit drop during the first nine months of fiscal year 2019/2020.

The company achieved net profits of EGP 2.135 billion from July 2019 to the end of last March, compared to EGP 2.59 billion in the prior-year period, according to a bourse disclosure on Sunday.

In addition, the company’s revenues retreated to EGP 5.808 billion in the nine-month period ended on 31 March, down from EGP 6.49 billion in the corresponding period a year earlier.

It is worth mentioning that during the first half of FY19/20, Abu Qir Fertilizers reported net profits of EGP 1.43 billion, compared to EGP 1.65 billion in the year-ago period.