Cairo – Mubasher: The consolidated financial statements of the Egyptian Financial and Industrial (EFIC) showed a 44% year-on-year surge in its net profits during the first nine months of 2019.

Net profits hiked to EGP 127.4 million in the January-September period, compared to EGP 88.26 million in the year-ago period, including minority shareholders’ rights, the company said in a statement to the Egyptian Exchange (EGX) on Wednesday.

At the level of standalone business, the company logged a net profit of EGP 54.5 million, dropping by 10% year-on-year from EGP 60.7 million in the corresponding period a year earlier.

It is worth mentioning that during the first half of 2019, Egyptian Financial and Industrial’s consolidated net profits grew to EGP 72.13 million from EGP 41.07 million in H1-18, including minority shareholders’ rights.