Latest news with #fertilizers
Zawya
2 days ago
- Business
- Zawya
Egypt: EFIC sees 6% YoY higher consolidated profits in Q1 2025
Arab Finance: The Egyptian Financial and Industrial Company's (EFIC) consolidated profits after tax increased by 6% to EGP 456.114 million in the first quarter (Q1) of 2025, according to the financial results. The earnings were compared with the EGP 428.496 million profits registered in Q1 2024. Revenues hiked by 57% year-on-year (YoY) to EGP 2.813 billion in the first three months of 2025 from EGP 1.790 billion. EFIC focuses on the production and distribution of chemical resources and agricultural fertilizers, as well as the ownership of the means of road and river transportation. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Reuters
7 days ago
- Business
- Reuters
Chile's SQM misses profit estimates as lithium prices remain under pressure
May 28 (Reuters) - Chile's SQM ( opens new tab, the world's second-largest lithium producer, on Wednesday missed quarterly profit estimates and warned of lower realized prices in the next quarter due to oversupply of the metal that is crucial for electric vehicle batteries. The company posted first-quarter net profit of $137.5 million, or 48 cents a share, compared to analysts' estimates of $171.20 million, or 63 cents a share, according to LSEG data. The miner said its revenue for the January to March period came in at $1.04 billion, which is in line with analysts' estimate of $1.045 billion, according to LSEG data. Miners worldwide have been hit by a nearly 90% drop in lithium prices since their peak in late 2022 due to weaker-than-expected demand for electric vehicles and excess supply from China. After posting a drop in net profit in the fourth quarter last year due to weak prices, SQM had said it expected lithium prices to dip further at the start of 2025. SQM, one of only two companies producing lithium in Chile, also makes fertilizers and industrial chemicals. The miner is awaiting final regulatory approvals to close a partnership deal with Chile's state-run copper miner Codelco in the Atacama salt flat, the most lithium-rich brine deposit in the world.
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. (
Reuters
22-05-2025
- Business
- Reuters
India's Deepak Fertilisers posts quarterly profit rise on robust demand
May 22 (Reuters) - India's Deepak Fertilisers and Petrochemicals ( opens new tab posted a 23.2% rise in quarterly profit on Thursday, supported by strong demand for its crop nutrition products. The company's consolidated net profit rose to 2.77 billion rupees ($32.2 million) in the fourth quarter, from 2.25 billion rupees a year earlier. Fertilisers and chemicals each contribute nearly half of the company's revenue, which rose 27.9% in the quarter to 26.67 billion rupees. Revenue from the fertilisers business rose nearly 89%, while that from chemicals declined 4.9%. For further earnings highlights, click [here] KEY CONTEXT Analysts said fertilisers companies such as Deepak Fertilisers outperformed their agrochemical peers in the fourth quarter, as volume growth, price hikes and demand for complex fertilisers lifted profitability. Unlike agrochemical firms, which continue to face demand volatility in both domestic and export markets, fertilizers are showing resilience in demand. PEER COMPARISON * The mean of analyst ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell ** The ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT JANUARY-MARCH STOCK PERFORMANCE -- All data from LSEG IBES -- $1 = 86.0225 Indian rupees
Reuters
22-05-2025
- Business
- Reuters
EU lawmakers back huge tariff hike for Russia, Belarus fertiliser
BRUSSELS, May 22 (Reuters) - The European Parliament voted on Thursday to impose very high tariffs on fertilisers and certain farm produce from Russia and its ally Belarus to prevent a potential threat to EU food security and limit Russian funds for its war against Ukraine. Tariffs for certain nitrogen-based fertilisers will rise over three years from 6.5% to an amount equivalent to about 100%, a level that would effectively halt trade. For the farm produce, an additional 50% duty will apply. The tariff hikes are expected to take effect on July 1.
