Egypt: EFIC’s consolidated profits drop 12.9% YoY in H1

Egyptian Financial and Industrial (EFIC) reported a 12.88% year-on-year (YoY) decrease in consolidated net profit attributable to the holding company during the first half (H1) of 2023, according to the financial statement filed to the Egyptian Exchange (EGX) on August 28th.

The company’s consolidated profits after minority interest dropped to EGP 435.189 million in H1 2023 from EGP 499.579 million in the comparative period a year earlier.

Net sales jumped 25.58% to EGP 2.470 billion in the six-month period ended June 30th, compared to EGP 1.967 billion in the year-ago period.

Established in 1929, EFIC is an Egypt-based company involved in the production and marketing of agricultural chemicals.