Cairo – Mubasher: Fawry for Banking Technology and Electronic Payments reported a 13.5% year-on-year profit growth during the first half of 2019, the company’s consolidated financial statements showed.
The e-payment platform logged a net profit of EGP 33.6 million during the six-month period ended 30 June, compared to EGP 29.6 million in the year-ago period, including minority shareholders’ rights, according to a statement to the Egyptian Exchange (EGX) on Tuesday.
Meanwhile, revenues surged to EGP 373 million in H1-19, rising by 37% year-on-year from EGP 273 million.
As for the second quarter of 2019, Fawry’s net profits fell to EGP 16.07 million from EGP 17.5 million in Q2-18.
At the level of H1-19 standalone financials, the EGX-listed firm posted a net profit of EGP 37.3 million, compared to EGP 36.8 million in the corresponding period a year earlier.
