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Fawry’s profit soars 48% in 9M
20 - Wed - Nov - 2019
Fawry’s profit soars 48% in 9M

The consolidated financial statement of Fawry for Banking Technology and Electronic Payments showed a 48% year-on-year profit hike during the first nine months of 2019.

Net profits surged to EGP 76.25 million in the nine-month period ended 30 September, compared to EGP 51.6 million in the year-ago period, including minority shareholders’ rights, the company said in a statement to the Egyptian Exchange (EGX) on Wednesday.

Meanwhile, the company’s revenues grew to EGP 614.8 million in the January-September period from EGP 441.7 million in the corresponding period of 2018.

As for the third quarter of 2019, the e-payment platform logged a net profit of EGP 40.3 million, up from EGP 21.9 million in Q3-18.

At the level of standalone financials for the January-September period, Fawry’s net profits rose to EGP 67.14 million, compared to EGP 58.7 million in the prior-year period.

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