EFG Hermes' consolidated profits decline 28% in 1st half of 2020

CAIRO - 18 August 2020: EFG Hermes consolidated profits of LE 422.9 million during the first half of 2020, compared to LE 686.5 million including minority rights during the same half of 2019, marking a 38 percent decrease. 

EFG Hermes' finacnial indicators revealed accomplishing revenues of LE 2.98 billion during the first six months of 2020, down from LE 3.16 billion during the same months of 2019. 

As per standalone results, the company turned into profitability, recording profits of LE 70.95 million during the first six months of 2019, compared to loss of LE 64.75 million during the same period of 2019. 

The Company reached profits of LE 98.92 million during the first quarter of 2020, compared to LE 380 million in the same quarter of 2019. 

EFG Hermes operates within the Diversified Financials sector focusing on Investment Banking and Brokerage. It has subsidiaries operating across the Carribian, Northern Africa and Middle East.