Cairo – Mubasher: Egyptian Financial and Industrial Company (EFIC) achieved consolidated net profits after tax worth EGP 755.85 million in 2022, a growth from EGP 304.18 million in 2021.
The basic earnings per share (EPS) soared to EGP 9.42 at the end of December 2022 from EGP 3.53 in the same period a year earlier, according to the income statements.
Net sales enlarged to EGP 3.67 billion during January-December 2022, compared with EGP 2.75 billion during the corresponding 12 months in 2021.
The total assets of EFIC reached EGP 4.61 billion in 2022, higher than EGP 2.84 billion in the previous year.
Non-consolidated Financials
The standalone net profits after tax increased to EGP 489.94 million in 2022 from EGP 208.71 million in 2021.
Meanwhile, the basic EPS went up to EGP 6.12 last year from EGP 2.46 a year earlier, while the net sales surged to EGP 1.79 billion from EGP 1.16 billion.
The total assets of the company rose to EGP 2.51 billion at the end of 2022 from EGP 1.69 billion in 2021.
Dividends
The board members of the EGX-listed firm recommended a cash dividend of EGP 3 per share for 2022.
The proposed dividend distribution would total EGP 218.30 million to the eligible shareholders for last year.
During the first nine months (9M) of 2022, EFIC generated consolidated net profits of EGP 610.64 million, while the standalone profits amounted to EGP 293.13 million.
