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Vertika reports 66% profit decline

Vertika reports 66% profit decline

ArabFinance: Vertika for Industry and Trade (VERT) reported a 66% Year on Year decrease in its net profit in Quarter one (Q1) of 2020, according to the company's June 16th financial statements filed to the Egyptian Exchange (EGX).

Net profit stood at EGP 159,343 in Q1 2020, compared to EGP 473,629 achieved in Q1 2019.

The company distributed cash dividends of EGP 0.2846041733 per share on May 10th to the shareholders recorded on May 5th.

Founded in 2005 and listed on EGX in 2013, Vertika offers information technology and business consulting services, while developing and distribution software and applications.

The company also provides telecommunication infrastructure development and internet education services.

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