Arab Finance: International Business Corporation for Trading and Agencies (IBCT) reported a 60.08% year-on-year (YoY) decline in net profits after tax for the first half (H1) of 2023, according to the financial statement filed to the Egyptian Exchange (EGX) on August 15th.
Net profits after tax amounted to EGP 495,034 in H1 2023, compared to EGP 1.240 million in H1 2022.
Moreover, the company recorded revenues of EGP 14.236 million, down from EGP 16.202 million in the same period of 2022.
Established in 1994, IBCT is an Egypt-based company that manufactures and trades refrigeration units for diversified industry sectors.