EFIC posts 222% YoY profit surge in 9 months
Updated 10/31/2022 10:34:00 AM
Arab Finance: Egyptian Financial and Industrial (EFIC) reported a 222% year-on-year (YoY) growth in standalone net profit after tax for the first nine months of 2022, according to the unaudited financial statement filed to the Egyptian Exchange (EGX) on October 31st.
Consolidated net profit after tax amounted to EGP 293.134 million in the nine-month period ended September 30th, compared to EGP 91.084 million in the same period last year.
Sales grew to EGP 1.23 billion in the January-September period of 2022 from EGP 745.573 million in the year-ago period.
The company previously reported recording a standalone net profit after tax of EGP 247.425 million in H1 2022, compared to EGP 37.394 million in the same period of 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.
