Arab Finance: El Arabia Engineering Industries (EEII) reported a 293% year-on-year increase in net profit after tax for the first nine months of 2023, according to the company’s financial statement filed to the Egyptian Exchange (EGX) on November 7th.

Net profits rose to EGP 39.379 million in the January-September period from EGP 10.017 million during the same period in 2022.

Meanwhile, sales climbed to EGP 153.859 million during the first nine months of 2023, up from EGP 96.475 million.

Established in 1989, the company is involved in the manufacture of wire-on-tube condensers.

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