Abu Qir Fertilizers witnessed a sharp decline in financial performance during Q1 of FY 2024/25, with net profits after tax dropping 35.35% year-on-year to EGP 1.28 billion, down from EGP 1.98 billion in Q1-23/24. The downturn was driven by a 16.39% fall in revenues to EGP 3.62 billion, attributed to lower sales volumes and heightened operating costs exacerbated by exchange rate volatility between the Egyptian pound and the US dollar. Earnings per share (EPS) also tumbled 36.30% to EGP 0.86, reflecting the broader financial strain. Despite these challenges, the company’s board approved the Q1 results on 7 November 2024. For the full fiscal year 2023/24, net profits dipped 4.32% to EGP 9.16 billion, signaling ongoing pressures.