Cairo – Mubasher: The Egyptian Financial and Industrial Company (EFIC) turned to net profits of EGP 20.29 million in the first quarter (Q1) of 2021, versus net losses of EGP 7.27 million in the year-ago period, the unaudited standalone financial results showed.
The sales surged to EGP 183.57 million in the January-March period from EGP 77.12 million in the corresponding period a year earlier, the company said in a bourse disclosure on Tuesday.
In 2020, the company reported consolidated net profits of EGP 126.94 million, down from EGP 203.56 million a year earlier, including minority shareholders’ rights.
As for standalone business, the company achieved net profits of EGP 71.99 million last year, down from EGP 143.82 million in 2019.
