Electro Cable Egypt’s consolidated profit soars 85.82% YoY in H1
Updated 8/19/2024 9:38:00 AM
Arab Finance: Electro Cable Egypt (ECE) recorded a 85.82% year-on-year (YoY) surge in consolidated net profit attributable to the parent company for the first half (H1) of 2024, according to the financial statement filed to the Egyptian Exchange (EGX) on August 19th.
Consolidated net profit excluding minority interest reached EGP 1.001 billion in H1 2024, compared to EGP 539.187 million in H1 2023.
Sales climbed to EGP 6.640 billion in the January-June period of this year from EGP 3.568 billion in the corresponding period last year.
At the level of the standalone financial statement, the company registered a standalone net profit after tax of EGP 316.114 million in H1 2024, rising from EGP 201.192 million in H1 2023.
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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