Economic Update – Company Performance
Fawry Company for Banking and Electronic Payment Technology has reported a remarkable increase in profitability for the year 2024, with profits soaring by 124.6% to reach 1.6 billion pounds after accounting for minority rights.
This substantial growth in profits was driven by a 68.4% rise in activity revenues, which reached 5.5 billion pounds, up from 3.2 billion pounds in 2023.
In a recent update to the Egyptian Stock Exchange, the company’s board of directors announced their decision to withhold profit distribution to shareholders for the fiscal year concluding in December.
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