Electro Cable’s consolidated profits go up 75.6% YoY in H1
Updated 8/15/2022 1:47:00 PM
Arab Finance: Electro Cable Egypt (ECE) (ELEC) recorded a 75.66% year-on-year (YoY) increase in consolidated profit attributable to the parent company during the first half (H1) of 2022, recording EGP 190.543 million, according to financial statements filed to the Egyptian Exchange (EGX) on Monday.
Sales surged to EGP 2.312 billion in H1 2022 from EGP 1.134 billion in H1 2021.
The company’s standalone net profit after tax reached EGP 71.074 million in the six-month period ended June 30th, up from EGP 57.797 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.
