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ArabFinance: Fawry for Banking Technology and Electronic Payment (FWRY) reported a 4.8% year-on-year (YoY) decline in consolidated net profit attributable to the parent company for the full year ended December 31st 2021, according to the company’s financial statements filed to the Egyptian Exchange (EGX) on April 21st.
Consolidated net profit excluding minority interest fell to EGP 177.17 million in 2021 from EGP 186.23 million in 2020.
The company also recorded consolidated operating revenue of EGP 1.65 billion last year, rising from EGP 1.23 billion in 2020.
Meanwhile, the company’s standalone net profit after tax dropped to EGP 120.41 million in 2021 from EGP 186.59 million in 2020.
Fawry is an Egypt-based company that provides an electronic payment network. The company allows users to pay bills in multiple channels, such as online, using automated teller machines, mobile wallets, and retail points.
