Arab Engineering Industries’ Q1 profit falls 31.3% YoY
Updated 5/8/2022 2:17:16 PM
ArabFinance: Arab Engineering Industries (EEII) reported a 21.33% year-on-year (YoY) decrease in profit after tax for the first quarter (Q1) of 2022, according to the company’s financial statement filed to the Egyptian Exchange (EGX) on May 8th.
The company recorded a net profit after tax of EGP 2.916 million in Q1 2022, compared to a profit of EGP 3.707 million in the prior-year period.
Net sales amounted to EGP 29.90 million in the three-month period ended March 31st, up from EGP 22.75 million in the same period of 2021.
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.
