EFIC reports 203% surge in 2021 standalone profit

Updated 2/3/2022 9:58:55 AM

ArabFinanceEgyptian Financial and Industrial (EFIC) reported a 203% year-on-year (YoY) surge in standalone net profit after tax for the year ended December 31st 2021, according to the company’s unaudited financial indicators filed to the Egyptian Exchange (EGX).

Standalone net profit after tax stood at EGP 218.21 million in 2021, compared to a profit of EGP 71.99 million in 2020.

Meanwhile, the company’s standalone revenue jumped by 75% YoY to EGP 1.16 billion in 2021 from EGP 666.34 million.

EFIC is an Egypt-based company involved in the production and marketing of agricultural chemicals. The company focuses on the production and distribution of chemical resources and agricultural fertilizers, as well as the production of plastic and general bags to fill up its products.