Cairo – Mubasher: The consolidated net profits of the Egyptian Financial Group Hermes Holding (EFG Hermes) dropped by 38% year-on-year (YoY), logging EGP 422.9 million during the first half (H1) of 2020, compared to EGP 686.5 million, including minority shareholders’ rights.
Meanwhile, revenues retreated to EGP 2.98 billion in the January-June period from EGP 3.16 billion in the prior-year period, according to a bourse disclosure on Tuesday.
As for standalone business, EFG Hermes reported net profits of EGP 70.95 million in H1-20, against net losses of EGP 64.75 million in H1-19.
During the first three months of 2020, the company’s net profits plunged to EGP 98.92 million from EGP 380 million in the year-ago period.
