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Fawry reports 88% profit increase

Fawry reports 88% profit increase

ArabFinance: Egyptian e-payment company - Fawry (FWRY) reported a 88% Year on Year (YoY) growth in its net consolidated profit for 2019.

The company posted a net consolidated profit of EGP 130,388,639 in 2019, compared to EGP 69,239,864 in the corresponding year, according to the released financial statement.

However, the company achieved standalone profit worth EGP 106,684,666 in 2019, a 50% climb from EGP 71,192,665 in 2018.

Fawry is a pioneering Electronic Payment Network, offering financial services to consumers and businesses through more than 125 thousand locations and a variety of channels.

Fawry offers a convenient and reliable way to pay bills and other services in multiple channels (online, using ATMs, mobile wallets and retail points).

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