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Vertika’s Q1 net profit falls by 51.7% YoY

Vertika’s Q1 net profit falls by 51.7% YoY

Arab FinanceVertika for Industry and Trade (VERT) posted a 51.7% year-on-year (YoY) decrease in net profit after tax for the first quarter (Q1) of 2022, according to the financial income statement filed to the Egyptian Exchange (EGX) on May 31st.

Net profit after tax amounted to EGP 123,871 in Q1 2022, compared to EGP 256,857 in Q1 2021.

Revenues reached EGP 3.29 million in Q1 2022, down from EGP 7.10 million in Q1 2021.

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

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