EFIC records 490.8% YoY leap in Q1 consolidated profit
Updated 5/31/2022 3:19:00 PM
Arab Finance: Egyptian Financial and Industrial (EFIC) reported a 490.8% year-on-year (YoY) surge in consolidated net profit attributable to the holding company for the first quarter (Q1) of 2022, according to the consolidated financial statement filed to the Egyptian Exchange (EGX) on May 31st.
Consolidated net profit excluding minority interest stood at EGP 236.01 million in Q1 2022, compared to EGP 39.94 million in Q1 2021.
Moreover, the company recorded net sales of EGP 854.81 million in the January-March period of 2022, up from EGP 471.80 million in the same period last year.
It is worth noting that the company achieved a standalone net profit after tax of EGP 98.364 million in Q1 2022, compared to a profit of EGP 20.296 million in Q1 2021.
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.
