Abu Qir reports 12.95% Y-o-Y growth in 2015/16 earnings to EGP1,020.1mn
Abu Qir Fertilizers Company (ABUK) [ABUK.CA] released its 2015/16 financial highlights showing earnings of EGP1,020.1mn (+12.95% Y-o-Y). Revenues for the year came in at EGP3,935.7mn (+11.04% Y-o-Y), while gross profit came in at EGP1,300.9mn (+1.29%Y-o-Y). The company mentioned that the following factors had a noticeable effect on its operations: i) decrease in international ammonia prices; ii) decline in international demand; and iii) devaluation of EGP vs. the USD. (Company disclosure)
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