Cairo – Mubasher: The financial indicators of Egyptian Financial and Industrial (EFIC) showed a 42% year-on-year surge in consolidated profits for 2017 due to higher sales.
Net profit reached EGP 153.7 million last year, up from EGP 108.19 million in 2016, the company said in a filing to the Egyptian Exchange (EGX) on Tuesday.
Sales increased to EGP 1.3 billion in 2017, versus sales of EGP 884.02 million a year earlier.
The company’s ordinary general meeting (OGM) is scheduled to take place on 31 March to approve the annual financial statements.
Given that the standalone indicators have shown that EFIC generated profits of EGP 98.56 million last year, compared to EGP 121.68 million in 2016.
