EFIC profits down in Q1

ArabFinance: The Egyptian Financial and Industrial Company (EFIC) posted 78% Year on Year decline in its consolidated net profit in Quarter one (Q1) of 2020, according to the company's June 14th disclosure filed to the Egyptian Exchange.

Consolidated net profit stood at EGP 3,376,970 in Q1 2020, compared to EGP 15,076,262 achieved in Q1 2019.

The company incurred a standalone net loss of EGP 7,272,801 in Quarter one (Q1) of 2020, against a net profit of EGP 5,219,218 in the prior-year period,

It distributed cash dividends amounting to EGP 0.750 per share on May 14^th to the shareholders recorded on May 11^th.

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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