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Decline in Abu Qir Fertilizers profits 19% in the first quarter


The results of the work of the Abu Qir Fertilizers and Chemical Industries net profit fell by 18.8% during the first quarter of fiscal year 2016-2017.

The company added in a statement to the Stock Exchange Egypt, on Monday, that the profit amounted to about 240.02 million pounds during the period between the months of July to September last two, compared to a profit of 295.63 million pounds in the same period of the previous year.

The statement said that the company's sales fell by 7.55% to $ 876.86 million pounds in the first quarter of the current fiscal year, compared to about 948.43 million pounds in the same period of 2015 to 2016.

Net profits for the company Abu Qir Fertilizers about 1.02 billion pounds during the fiscal year 2015-2016, compared to a profit of 903 million pounds in the previous fiscal year, to him, an increase of 13%.

The fiscal year for the company in early July of each year

The company's shares closed up 4.85 percent to 102.29 pounds, by the end of the meeting on Sunday, while the stock has not seen any trading at the beginning of Cilhaleom.

Prime Research, the fair value of Amer Group shares at 0.266 pounds, with the recommendation to retain.

She Primes in a research note on Wednesday that the company was able to achieve strong earnings during the first nine months of 2016 period, through the restructuring of the hotel sector.

Hotel revenues in the Amer Group and amounted to about 146 million pounds during the first nine months of 2016 period, compared to about 126 million pounds in the same period of 2015.

It showed consolidated business results for the company to increase its profits by 36% during the first nine months of 2016, to reach 151.5 million pounds.

The company's shares rose 4% at a price of 0.26 pounds, by the time 12:31 pm Wednesday session.

She Raya Holding for Technology and Communications Company, it is nearing completion of due diligence to acquire a food factory studies.

The company explained in a statement to the Stock Exchange Egypt, it said on Wednesday it plans to inject capital in the range of 150 million pounds.

Raya Holding added that the final price of the acquisition will be determined after the completion of the due diligence examination studies, and to agree on all the terms of the deal, according to the statement.

She Raya Holding Company, in October last year, said that its Board of Directors has agreed in principle to enter into negotiations on the acquisition of a food-based industrial projects and working in the local market and export.
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