EFIC’s standalone profits soar 562% in H1-22

Reuters Images/Mohamed Abd El Ghany

The company’s sales grew by 114% during the six-month period ended 30 June 2022

Staff Writer, Mubasher

July 31, 2022

PHOTO

Cairo – The Egyptian Financial and Industrial Company’s (EFIC) standalone net profits jumped by 562% year-on-year (YoY) during the first half (H1) of 2022 to EGP 247.4 million, from EGP 37.4 million in H1-21.

Earnings per share (EPS) recorded EGP 285 in H1-22, compared to EGP 43 in H1-21, according to a bourse disclosure on Sunday.

The company’s sales grew by 114% during the six-month period ended 30 June 2022 to EGP 847.5 million, compared to EGP 396.1 million in the year-ago period.

It is noteworthy to point out that during Q1-22, EFIC’s standalone net profits hiked by 385% YoY to EGP 98.36 million in the first quarter (Q1) of 2022, from EGP 20.29 million.

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