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Vertika for Industry’s profits fall by 25.7% YoY in 9 months

Vertika for Industry’s profits fall by 25.7% YoY in 9 months

Arab Finance: Vertika for Industry and Trade (VERT) posted a 25.7% year-on-year (YoY) decrease in net profit after tax for the nine-month period ended September 30th, according to the financial income statement filed to the Egyptian Exchange (EGX) on November 13th.

The company recorded a net profit after tax of EGP 596,639 in the first nine months of 2022, compared to EGP 803.264 in the corresponding period last year.

Revenues fell to EGP 8.45 million in the January-September period this year from EGP 16.88 million in the same period of 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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