Cairo – Mubasher: The consolidated net profits after tax of Egyptian Financial and Industrial Company (EFIC) hit EGP 435.50 million in the first half (H1) of 2023, an annual drop from EGP 499.90 million, including non-controlling equity.

Revenues hiked to EGP 2.47 billion during the January-June 2023 period from EGP 1.96 billion in H1-22, according to the consolidated income statements.

The basic earnings per share (EPS) stood at EGP 5.53 in H1-23, lower than EGP 6.32  a year earlier.

Financial Results for Q2-23

In the second quarter (Q2) of 2023, the company generated EGP 213.22 million in consolidated net profit after tax, versus EGP 263.71 million in Q2-22, including minority interest.

The revenues climbed to EGP 1.48 billion during Q2-23 from EGP 1.11 billion in the year-ago period, while the EPS plummeted to EGP 2.68 from EGP 3.29.

As for the standalone business, EFIC logged net profits after tax valued at EGP 202.11 million in H1-23, down 18% year-on-year (YoY) from EGP 247.42 million.

Non-consolidated revenues amounted to EGP 1.05 billion in the first six months (6M) of 2023, compared to EGP 847.52 million in H1-22.