Egyptian Financial and Industrial Company’s profits near over $26mln in H1-22

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Cairo – The consolidated net profits of Egyptian Financial and Industrial Company (EFIC) jumped to EGP 499.90 million during the first half (H1) of 2022, compared to EGP 75.61 million in the same period in 2021.

The company’s sales totalled EGP 1.96 billion during H1-22, compared to EGP 1.05 billion in H1-21, according to a bourse disclosure on Tuesday.

Recently, EFIC announced registering higher annual standalone net profits by 562% to EGP 247.4 million in H1-22, compared to EGP 37.4 million in H1-21.

During the period from April to June 2022, the company achieved net profits of EGP 263.71 million, a hike from EGP 35.64 million in the year-ago period.

In the meantime, sales netted EGP 1.11 billion in the second quarter (Q2) of 2022, up from EGP 588.13 million in Q2-21.

During Q1-22, the standalone net profits of EFIC hiked by 385% to EGP 98.36 million, from EGP 20.29 million in the same quarter of 2021.