ArabFinance: Arab Engineering Industries (EEII) reported a 17% Year on Year growth in its net profit in the first nine months of 2020, according to the company’s November 8th financial statements filed to the Egyptian Exchange.

Net profit after tax stood at EGP 6,387,748 in the January-September period of 2020, compared to EGP 5,420,519 achieved in the prior-year period.

The company's sales reached EGP 53,642,487, marking a 0.79% year on year rise.

Arab Engineering split its share' par value to be EGP 0.375 from EGP 3.75 on September 22nd.

Arab Engineering Industries is an Egypt-based company engaged in the manufacture of wired condensers for household refrigerators, as well as steel wires.