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Vertika turns to profits ending December 2016

Vertika turns to profits ending December 2016

Arab Finance: Vertika (VERT) announced in a statement sent to EGX, the audited financial results for the fiscal period starting January 1, 2016, and ending December 31, 2016.

The company posted consolidated net profits of LE206,477, against net losses of LE436,190 in the same period a year ago.

Moreover, it posted standalone net profits of LE226,773, against net losses of LE428,824 in the same period a year ago.

Floatation of EGP had no impact on fiscal year results, the company added.

The company stated in the Board report that it won't distribute profits for the fiscal year ending December 2016.

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