Cairo – Mubasher: The unaudited standalone financial results of the Egyptian Financial and Industrial (EFIC) reported a 10% year-on-year profit retreat during the first nine months of 2019.
Net profits declined to EGP 54.5 million during the nine-month period ended 30 September, compared to EGP 60.7 million in the year-ago period, the company said in a statement to the Egyptian Exchange (EGX) on Sunday.
On the other hand, the company’s revenues increased to EGP 630.3 million in the January-September period from EGP 518.5 million in the corresponding period of 2018.
It is noteworthy that during the first half of 2019, the EGX-listed firm posted a consolidated net profit of EGP 72.13 million, compared to EGP 41.07 million in H1-18, including minority shareholders’ rights.
