Cairo – Mubasher:  The Egyptian Financial and Industrial Company (EFIC) reported a 1,085% year-on-year (YoY) leap in its consolidated net profits to EGP 39.96 million in the first quarter (Q1) of 2021, compared to EGP 3.37 million, including minority shareholders’ rights.  

The sales surged to EGP 471.8 million in the January-March period from EGP 188.71 million in the corresponding period a year earlier, the company said in a bourse disclosure on Tuesday.

As for standalone business, the company logged net profits of EGP 20.39 million in Q1-21, against net losses of EGP 7.27 million in Q1-20.

In 2020, the company recorded consolidated net profits of EGP 126.94 million, down from EGP 203.56 million a year earlier, including minority shareholders’ rights.