Latest news with #MisrFertilizers
Zawya
23-05-2025
- Business
- Zawya
Egypt: MOPCO sees $11mln block trading
Arab Finance: Misr Fertilizers Production Company (MOPCO) recorded a block trading transaction valued at EGP 555.658 million, the Egyptian Exchange (EGX) stated on May 22nd. The transaction was executed on 14.508 million shares. MOPCO's net profits after tax plummeted by 63% year-on-year (YoY) to EGP 2.813 billion as of March 31st, 2025, from EGP 7.648 billion. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
21-05-2025
- Business
- Zawya
Egypt's fertiliser producers cut output as gas supplies slashed
Two of Egypt's largest fertiliser producers said on Wednesday they had received official notification of a two-week reduction in natural gas supply to their plants, triggering an immediate drop in production. Abu Qir Fertilizers and Chemical Industries and Misr Fertilizers Production both said in stock exchange statements that they expected output to drop by 30% during the period. The cuts come as Egypt faces growing gas supply challenges ahead of the peak summer season, with the government scrambling to secure additional gas and fuel oil cargoes to meet surging demand. Similar gas supply cuts were imposed on fertiliser producers in June last year, disrupting operations. Natural gas is a key input for fertiliser production, and any disruption can impact both domestic supply and export revenues. Egypt's natural gas output fell from 4.6 billion cubic metres in January 2024 to 3.3 billion cubic metres in February 2025 - the lowest since April 2016, according to the Joint Organisations Data Initiative. Egypt's Ministry of Petroleum has not yet commented on the reductions. Egypt has been working to position itself as a regional energy hub, but chronic gas shortages forced it to become a net importer, enforce rolling blackouts, and rely on foreign funding to meet its domestic needs. (Reporting by Nayera Abdallah and Mohamed Ezz. Editing by Mark Potter)
Reuters
21-05-2025
- Business
- Reuters
Egypt's fertiliser producers cut output as gas supplies slashed
CAIRO, May 21 (Reuters) - Two of Egypt's largest fertiliser producers said on Wednesday they had received official notification of a two-week reduction in natural gas supply to their plants, triggering an immediate drop in production. Abu Qir Fertilizers and Chemical Industries and Misr Fertilizers Production both said in stock exchange statements that they expected output to drop by 30% during the period. The cuts come as Egypt faces growing gas supply challenges ahead of the peak summer season, with the government scrambling to secure additional gas and fuel oil cargoes to meet surging demand. Similar gas supply cuts were imposed on fertiliser producers in June last year, disrupting operations. Natural gas is a key input for fertiliser production, and any disruption can impact both domestic supply and export revenues. Egypt's natural gas output fell from 4.6 billion cubic metres in January 2024 to 3.3 billion cubic metres in February 2025 - the lowest since April 2016, according to the Joint Organisations Data Initiative. Egypt's Ministry of Petroleum has not yet commented on the reductions. Egypt has been working to position itself as a regional energy hub, but chronic gas shortages forced it to become a net importer, enforce rolling blackouts, and rely on foreign funding to meet its domestic needs.
Zawya
13-05-2025
- Business
- Zawya
Egypt: Mopco's net profits drops in Q1-25
Cairo – Misr Fertilizers Production Company (Mopco) generated net profits after tax valued at EGP 2.81 billion in the first quarter (Q1), down year-on-year (YoY) from EGP 7.64 billion. Basic and diluted earnings per share (EPS) dropped to EGP 1.35 in Q1-25 from EGP 3.68 in Q1-24, according to the financial results. Meanwhile, the net sales increased to EGP 6.34 billion as of 31 March 2025 from EGP 4.79 billion a year earlier. Total assets hit EGP 61.75 billion in Q1-25, compared to EGP 58 billion at the end of December 2024. Source: Mubasher All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. ( Mubasher
Zawya
12-05-2025
- Business
- Zawya
Egypt: MOPCO reports 63% YoY profit drop in Q1
Arab Finance: Misr Fertilizers Production Company (MOPCO) posted a 63% year-on-year (YoY) plunge in net profits after tax during the first quarter (Q1) of 2025, according to a statement on May 11th. The company's net profits declined to EGP 2.813 billion in the three-month period ended March 31st from EGP 7.648 billion in the year-ago period. On the other hand, sales climbed by 32% YoY to EGP 6.342 billion from EGP 4.797 billion. MOPCO is an Egypt-based company that is engaged in the production, marketing, wholesaling, and distribution of fertilizers and petrochemical products. The company's various products include ammonia, urea, and nitrogen. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
