Cairo –  Fawry for Banking Technology and Electronic Payments has reported consolidated net profits after tax of EGP 242.12 million in 2021, an 8.30% year-on-year (YoY) increase from EGP 223.56 million, including minority shareholders' rights.

The revenues reached EGP 1.65 billion in 2021, higher than EGP 1.23 billion a year earlier, according to a bourse filing on Thursday.

Fawry’s standalone net profits after tax amounted to EGP 120.41 million in 2021, compared to EGP 186.59 million in 2020.

The standalone revenues soared to EGP 1.11 billion in 2021 from EGP 906.36 million in 2020.

In a separate bourse filing, the company’s board recommended not to pay out cash dividends for 2021, which is still subject to the ordinary general meeting’s (OGM) approval.

During the first nine months (9M) of 2021, Fawry registered consolidated net profits worth EGP 193.73 million, higher than EGP 145.19 million in 9M-20.

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