Egypt: EFIC logs nearly $16.22mln consolidated profits in H1-24

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Egyptian Financial and Industrial Company (EFIC) posted consolidated net profits after tax valued at EGP 788.88 million in the first half (H1) of 2024, an annual hike from EGP 435.50 million.

The sales hit EGP 3.98 billion in H1-24, marking a year-on-year (YoY) leap from EGP 2.47 billion, according to the financial statements.

Basic earnings per share (EPS) amounted to EGP 10.08 in the first six months (6M) of 2024, versus EGP 5.53 in H1-23.

EFIC registered total assets valued at EGP 6.85 billion in H1-24, versus EGP 5.52 billion as of 31 December 2023.

Results for Q2

The consolidated profits jumped to EGP 360.39 million in the second quarter (Q2) of 2024 from EGP 213.32 million in Q2-23, while the net revenues hiked to EGP 2.20 billion from EGP 1.48 billion.

EPS climbed to EGP 4.57 in April-June 2024 from EGP 2.86 during the same period in 2023.

In the January-March 2024 period, the consolidated net profit hit EGP 428.49 million, higher than EGP 222.18 million in Q1-23.