Cairo – Mubasher: EFG-Hermes Holding posted a slide in net profits for the fourth quarter of 2015 by 38.9%, the company's financial results indicated.
The company’s Q4-15 profits after tax and minority interests shrank to EGP80 million from EGP131 million for the year-ago quarter, the company said in a bourse filing.
In 2015, Hermes consolidated profits declined by 8% year-over-year to EGP648.92 from EGP706.98 million.
Moreover, the standalone statements revealed that the company turned into losses during 2015, after logging EGP31.7 million in losses against EGP443.4 profits a year earlier.
In the first nine months, Egypt’s EFG-Hermes Holding registered a 2% rise in consolidated net profits to EGP 536.51 million.
