EFIC’s standalone profit soars 385% YoY in Q1
Updated 4/28/2022 1:34:00 PM
ArabFinance: Egyptian Financial and Industrial’s (EFIC) standalone net profit after tax ballooned 385% year-on-year (YoY) in the first quarter (Q1) of 2022, according to financial indicators filed to the Egyptian Exchange (EGX) on April 28th.
Standalone net profit after tax registered EGP 98.364 million in Q1 2022, compared to a profit of EGP 20.296 million in the same quarter of 2021.
The company’s revenue surged 68% YoY to EGP 308.672 million in the three-month ended March 31st from EGP 183.57 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.
