Fawry hits profits of LE 85.79M during Q1 2021

CAIRO – 23 May 2021: Fawry for Banking Technology and Electronic Payment recorded 125.5-percent hike in its consolidated profits during the first quarter of 2021, reaching LE 85.79 million, up from LE 38.04 million during the same quarter of 2020.

The company’s revenues rose to LE 348.99 million, compared to LE 257.99 million during the same period of 2020.

As per standalone results, the company recorded profits of LE 53.7 million, compared to LE 41.56 million during the same period of 2020.

In 2020, Fawry accomplished profits of LE 186.2 million, up from LE 102.9 million during the previous year.

Fawry operates within the software & services sector focusing on data processing & outsourced services. Fawry is based in Cairo, Egypt and was established in June 2008.