Arab Finance: Electro Cable Egypt (ECE) (ELEC) recorded a 164.79% year-on-year (YoY) increase in consolidated profit attributable to the parent company during the first quarter (Q1) of 2024, recording EGP 535.328 million, compared to EGP 202.171 million, according to financial statements filed to the Egyptian Exchange (EGX).

Sales surged to EGP 3.072 billion in Q1 2024 from EGP 1.533 billion in Q1 2023.

The company’s standalone net profit after tax reached EGP 167.531 million in the three-month period ended March 31st, up from EGP 60.145 million the year before.

Electro Cable is an Egypt-based public shareholding company that operates in the electric components manufacturing sector. The company manufactures and distributes power and telecommunication cables and wires in Egypt and abroad.

Its product portfolio includes low-, medium-, and high-tension power cables, isolated cables, and telephone communication cables.

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