Egypt El-Sewedy Electric profits up 48%

Ahram Online , Monday 1 Dec 2014

Strong growth in profits during first nine months of 2014 at Egypt's largest listed cable maker

El Sewedy
An employee works at El Sewedy's electricity cable factory (Photo: Courtesy of El Sewedy website)

Egypt's largest listed cable maker, El-Sewedy Electric Co., saw its net profits for the first nine months of 2014 jump 48 percent above the same period last year, financial statements posted on the Egyptian stock exchange showed.

Net profit was LE333.8 million ($46.6m) in the period from January to September 2014, up from LE225.6 million last year.

El-Sewedy closed yesterday's trading session at LE46.49 per share. The benchmark EGX30 index was down 0.17 percent in early trading on Monday.

In the quarter ending 30 September, the company saw net profit grow 75 percent to LE103.7 million.


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