Arab Finance: Arab Engineering Industries (EEII) reported a 42.3% year-on-year (YoY) increase in net profit after tax for the first quarter (Q1) of 2024, according to the company’s financial statement.
The company recorded net profits of EGP 19.403 million in Q1 2024, compared to 13.608 in Q1 last year.
Meanwhile, net sales grew to EGP 67.188 million from EGP 49.026 million.
In 2021, the company registered a net profit after tax of EGP 12.74 million, compared to a profit of EGP 7.29 million.
Arab Engineering Industries is an Egypt-based company engaged in the manufacture of wired condensers for household refrigerators, as well as steel wires.