EFIC profit skyrockets

This marked a Year on Year (YoY) rise of 1,084%

  
Traders work at the Egyptian stock exchange in Cairo, Egypt April 18, 2016.

Traders work at the Egyptian stock exchange in Cairo, Egypt April 18, 2016.

REUTERS/Mohamed Abd El Ghany

ArabFinance: Egyptian Financial and Industrial Company (EFIC) posted a consolidated net profit before minority interest of EGP 39.943 million in quarter one (Q1) 2021, according to the company’s May 25thfinancial statements filed to the Egyptian Exchange.

This marked a Year on Year (YoY) rise of 1,084% when compared to EGP 3.372 in Q1 2020.

EFIC posted a standalone net profit of EGP 20.269 million in Q1 2021, compared to a 179% increase from EGP 7.273 million posted in Q1 2020.

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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