Cairo – Mubasher: Egyptian Financial and Industrial (EFIC) posted a 20% year-on-year profit rise during the first half of 2019, the company’s standalone financial statements showed.
Net profits increased to EGP 37.54 million from January to June, compared to EGP 31.22 million in the year-ago period, according to a statement to the Egyptian Exchange (EGX) on Sunday.
Year-on-year, revenues hiked to EGP 436.95 million in the six-month period ended 30 June from EGP 273.6 million.
Higher H1 profit was ascribed to the increase in the volume of exports during the second quarter of 2019.
During the three-month period ended 31 March, the Egyptian firm recorded EGP 5.21 million in net profits, compared to EGP 4.14 million in the same period a year earlier.
Sales soared to EGP 157.69 million in the January-March period of 2019 from EGP 119.14 million in the year-ago period.
