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Vertika for Industry’s net profit drops 24.5% in 6 months

Vertika for Industry’s net profit drops 24.5% in 6 months

Arab Finance: Vertika for Industry and Trade (VERT) posted a net profit after tax of EGP 399,015 in the first half (H1) of 2022, down by 24.48% from EGP 528,358 in H1 2021, according to the financial income statement filed to the Egyptian Exchange (EGX) on August 10th.

Revenues fell to EGP 5.45 million in the January-June period this year from EGP 12.016 million in H1 2021.

Moreover, the company achieved a net profit after tax of EGP 275,144 in the second quarter (Q2) of 2022, slightly up from EGP 271,500 in Q2 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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