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Egypt’s EFG Hermes says first quarter net profit fell 6.8 percent

Egypt's EFG defends executives against graft charges

Egypt's EFG Hermes said on Tuesday its net profit for the first quarter fell 6.8 percent from the same period a year earlier.

June 5, 2012 5:24 by



Egypt’s EFG Hermes said on Tuesday its net profit for the first quarter fell 6.8 percent from the same period a year earlier.

Net profit for the period dropped to 77.0 million Egyptian pounds ($12.75 million) from 82.7 million in the first quarter of 2011, the bank said in a statement posted on the stock exchange website.

($1 = 6.0390 Egyptian pounds)

(Reporting by Ehab Farouk, writing by Patrick Werr)



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