Cairo – Mubasher: The financial indicators of Egyptian Financial and Industrial (EFIC) has shown a 79% year-on-year decline in profits for the first quarter of 2018, recording EGP 11.5 million from EGP 54.1 million.
Sales narrowed to EGP 265.8 million in Q1-18 from EGP 298.4 million in Q1-17, the company said in a filing to the Egyptian Exchange (EGX) on Monday.
EFIC had previously posted a net profit of EGP 153.7 million for the full-year ended December 2017, versus EGP 108.19 million a year earlier.
The company had also achieved a standalone profit of EGP 4.1 million in the three-month ended March 2018, compared to EGP 42.4 million in Q1-17.
