Cairo – Mubasher: Egyptian Financial and Industrial (EFIC) on Tuesday reported a 24.6% year-on-year decline in consolidated profits for the full-year ended December 2018.
Net profit reached EGP 114.7 million last year, versus EGP 152.16 million in 2017, including minority shareholders’ rights, the company said in a filing to the Egyptian Exchange (EGX).
Revenues increased to EGP 1.6 billion in 2018 from EGP 1.37 billion a year earlier, the producer of agricultural chemicals added.
In January, EFIC posted a 6.2% year-on-year increase in standalone profits for 2018, recording a net profit of EGP 109.1 million, versus EGP 102.74 million in 2017.
EFIC previously reported a consolidated profit of EGP 88.2 million for the first nine months of 2018, versus EGP 129.8 million in the corresponding period of 2017.
