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Fertiglobe reports higher profits in Q1-22 unaudited financials

Fertiglobe reports higher profits in Q1-22 unaudited financials
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Fertiglobe
FERTIGLOBE
2.48% 5.38 0.13

Abu Dhabi - Mubasher: The net profits attributable to the owners of Fertiglobe, a joint venture between ADNOC and OCI, hiked to $356.6 million in the first quarter (Q1) of 2022, compared to $85.2 million in the same period of 2021, according to the company's unaudited consolidated interim financials.

The company generated revenues of $1.18 billion in the first three months (3M) of 2022, up 118% year-on-year (YoY) from $543.4 million.

The basic and diluted earnings per share (EPS) stood at $0.04 each in Q1-22, versus $0.01 in Q1-21.

It is noteworthy to mention that in 2021, the company's net profits attributable to the owners surged to $702.7 million, compared to $74.3 million in 2020.