Egyptian Financial and Industrial (EFIC) announced that its consolidated net profits attributable to the parent company dropped 15.58% year on year (YoY) for the first nine months of 2023, as per the financial statement sent to the Egyptian Exchange (EGX) on November 29th.
Consolidated net profit after tax and minority interest amounted to EGP 515.184 million in the nine-month period ended September 30th, down from EGP 610.643 million in the same period last year.
On the other hand, net sales rose to EGP 3.28 billion at the end of September from EGP 2.774 billion in the comparative nine-month period of 2022.
The firm reported a 20% year-on-year (YoY) drop in its standalone net profit after tax for the first nine months of 2023.
EFIC is an Egypt-based company involved in the production and marketing of agricultural chemicals. The company focuses on the production and distribution of chemical resources and agricultural fertilizers, as well as the production of plastic and general bags to fill up its products.
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