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Fawry’s profit skyrockets 90% in 9M

Fawry’s profit skyrockets 90% in 9M
Revenues surged to EGP 892.721 million in the January-September period
Fawry
FWRY
-6.46% 7.53 -0.52

Cairo – Mubasher: Fawry for Banking Technology and Electronic Payments reported a 90.4% year-on-year (YoY) leap in its consolidated net profit, registering EGP 145.19 million in the first nine months of 2020, compared to EGP 76.25 million, including minority shareholders’ rights.

Revenues surged to EGP 892.721 million in the January-September period from EGP 614.33 million in the year-ago period, the company said in a bourse disclosure on Monday.

As for standalone business, Fawry posted net profits of EGP 122.43 million in the nine-month period ended 30 September, up from EGP 67.14 million in the corresponding period a year earlier.

During the first half (H1) of 2020, the e-payment platform achieved net profits of EGP 85.9 million, up from EGP 36.47 million in H1-19.