EFIC’s consolidated profit leaps to $9.04mln in Q1-24

A trader reacts at the Egyptian stock exchange in Cairo, Egypt September 5, 2023. REUTERS/Shokry Hussien Image for illustrative purpose
Reuters/REUTERS

Net sales jumped to $37mln in Q1-24

Staff Writer, Mubasher

June 3, 2024

PHOTO
A trader reacts at the Egyptian stock exchange in Cairo, Egypt September 5, 2023. REUTERS/Shokry Hussien Image for illustrative purpose

Cairo – The consolidated net profit of Egyptian Financial and Industrial Company (EFIC) surged to EGP 428.49 million during the first quarter (Q1) of 2024 from EGP 222.18 million in Q1-23.

Net sales jumped to EGP 1.78 billion in Q1-24 from EGP 982.52 million in Q1-23, according to the interim financial results.

The earnings per share (EPS) amounted to EGP 5.52 in the three-month period that ended on 31 March 2024, up from EGP 2.86 in the equivalent period of last year.

In the first quarter (Q1) of 2024, EFIC recorded a standalone net profit of EGP 158.20 million, up from EGP 87.26 million in the comparative period of 2023.

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