Arab Finance: Vertika for Industry and Trade (VERT) saw a 78% year-on-year (YoY) decline in net profits after tax during the first quarter (Q1) of 2024, according to the company’s financial indicators.
Net profits after tax amounted to EGP 38,511 in Q1 2024, compared to EGP 176,865 in Q1 2023.
Revenues came in at EGP 1.536 million during the January-March period of this year, down from EGP 2.694 million during the corresponding period of 2023.
Founded in 2005 and listed on EGX in 2013, Vertika offers information technology and business consulting services, while developing and distributing software and applications.