EFIC’s standalone net profit soars 562% YoY in H1
Updated 7/31/2022 9:44:48 AM
Arab Finance: Egyptian Financial and Industrial (EFIC) reported a 562% year-on-year (YoY) hike in standalone net profit after tax for the first half (H1) of 2022, according to the unaudited standalone financial income statement filed to the Egyptian Exchange (EGX) on July 31st.
The company recorded a net profit after tax of EGP 247.425 million in H1 2022, compared to EGP 37.394 million in the same period of 2021.
Revenues amounted to EGP 847.520 million in the six-month period ended June 30th, surging by 114% YoY from EGP 396.11 million.
In the first quarter (Q1) of 2020, the company recorded 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.
