The International Crops Company, an Egyptian agricultural firm, held its ordinary general assembly, which approved the company's board of directors' report on its activities and financial statements for the fiscal year ending June 30, 2026. The assembly also agreed to the proposal not to distribute profits to shareholders and to carry them forward to the next year, along with distributing a share of profits to employees and company management.
The company's financial statements for the fiscal year 2025-2026 showed an increase in its resources to 3.12 billion Egyptian pounds, compared to 2.26 billion pounds in the same period of the previous year. This represents a significant increase in the company's financial capabilities. The company's sales reached approximately 2.60 billion pounds during the period from July 2025 to June 2026.
The increase in sales was attributed to a rise in quantities and prices of the sold items, with a value increase of 400 million pounds compared to the previous year. The company's financial performance was positively impacted by this growth in sales. Additionally, the company recorded revenues from securities amounting to 463.33 million pounds during the past fiscal year.
This represents a significant increase compared to 88.26 million pounds in the same period of the previous year, mainly due to the accrual of revenues from the company's contribution to Boly Serv and Ferkim. The company's financial statements also showed a decrease in interest payable to 60.53 million pounds, compared to 62.25 million pounds in the same period of the previous year.
The company's general assembly also approved the discharge of the chairman and members of the board of directors from their responsibilities for the fiscal year ending June 30, 2026. Furthermore, the assembly appointed Baker Tilly Mohamed Helal and Waheed Abdel Ghaffar as the company's auditors. These decisions were made to ensure the company's continued growth and financial stability.
The company's financial performance was also marked by a profit from the sale of assets amounting to 828 thousand pounds, compared to 1.44 million pounds in the same period of the previous year. Additionally, the company recorded other revenues amounting to 884 thousand pounds, compared to 148 thousand pounds in the previous year.
The company's decision not to distribute profits to shareholders and to carry them forward to the next year is expected to have a positive impact on its future financial performance. The company's management aims to utilize these profits to drive growth and expansion in its operations. The company's financial statements and performance will be closely monitored by investors and stakeholders in the coming period.
Key points
- International Crops Company's general assembly decides not to distribute profits to shareholders for the 2025-2026 fiscal year.
- The company's resources increased to 3.12 billion Egyptian pounds for the fiscal year 2025-2026.
- The company's sales reached approximately 2.60 billion pounds during the period from July 2025 to June 2026.
