Industrial and Engineering Enterprises logs 442.6% YoY profit hike in Q1

Updated 6/2/2022 8:23:00 AM

Arab FinanceIndustrial and Engineering Enterprises Co (IEEC) has posted a 442.62% year-on-year (YoY) hike in net profit after tax during the first quarter (Q1) of 2022, recording EGP 1.014 million, according to financial statements filed to the Egyptian Exchange (EGX) on May 31st.

Operating revenue jumped to EGP 45.051 million in Q1 2022 from EGP 24.218 million in Q1 2021.

Industrial and Engineering Enterprises undertakes public contracting activities and specifically civil constructions as well as supplying and assembling mechanical and electrical equipment for water draining, drinking water stations, irrigation, and subterranean drainage.