Industrial and Engineering Enterprises’ profits climb 300.9% YoY in 9 months
Updated 11/14/2022 8:38:00 AM
Arab Finance: Industrial and Engineering Enterprises Co (IEEC) reported a 300.9% year-on-year (YoY) surge in net profit after tax during the first nine months of 2022, according to the financial statement filed to the Egyptian Exchange (EGX) on November 13th.
Net profit after tax amounted to EGP 1.08 million in the January-September period of 2022, compared to EGP 270,304 in the year-ago period.
Operating revenues rose to EGP 131.49 million in the nine-month period ended September 30th from EGP 88.76 million in the same period a year earlier.
Industrial and Engineering Enterprises undertakes public contracting activities and specifically civil constructions as well as supplying and assembling mechanical and electrical equipment for water draining, drinking water stations, irrigation, and subterranean drainage.
