Vertika reports 50.4% YoY profit surge in 2023

Updated 3/25/2024 9:57:00 AM
Vertika reports 50.4% YoY profit surge in 2023

Arab Finance: Vertika for Industry and Trade’s (VERT) net profits after tax rose 50.4% year on year (YoY) to EGP 1.034 million in 2023, compared to EGP 687,516, as per a filing on March 25th.

Likewise, revenues went up to EGP 15.056 million last year from EGP 11.161 million in the prior year.

On a related note, the firm has decided to raise the issued capital from EGP 4.282 million to EGP 5.139 million via the distribution of 0.04-for-1 bonus shares.

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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