Cairo – Mubasher: The consolidated financial statements of the Egyptian Financial Group Hermes Holding (EFG Hermes) showed net profits of EGP 849.8 million during the first nine months of 2020, down by 18.2% year-on-year (YoY) from EGP 1.04 billion.
The company’s revenues slid to EGP 4.71 billion in the nine-month period ended 30 September from EGP 4.93 billion in the year-ago period, according to a bourse disclosure on Wednesday.
As for standalone business, EFG Hermes turned to net profits of EGP 178.07 million in the January-September period, versus net losses of EGP 140.24 million in the corresponding period a year earlier.
During the first half (H1) of 2020, the company achieved net profits of EGP 422.9 million, down from EGP 686.5 million in H1-19, including minority shareholders’ rights.
