Arab Engineering Industries’ profits contract 27.2% YoY in H1

Updated 8/9/2022 10:43:00 AM

ArabFinanceArab Engineering Industries (EEII) recorded a 27.19% decline in net profit after tax during the first half (H1) of 2022, recording EGP 6.505 million, according to financial statements filed to the Egyptian Exchange (EGX) on Tuesday.

Net sales, on the other hand, grew to EGP 60.774 million in the January-June period from EGP 52.904 million.

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