ArabFinance: Electro Cable Egypt (ELEC) posted a consolidated net profit before minority interest of EGP 9.003 million in quarter one (Q1) 2021, according to the company’s financial statements filed to the Egyptian Exchange.

This marked a Year on Year (YoY) rise of 71% when compared to EGP 5.269 million in Q1 2020.

Standalone net profit reached EGP 1.067 million in Q1 2021, a 22.6% increase from EGP 870,824 posted in Q1 2020.

Electro Cable Egypt signed an EGP 800-million contract with Cairo Leasing Corporation to finance the new plant of Electro Cable.

Electro Cable is an Egypt-based public shareholding company that operates in the electric components manufacturing sector. The company manufactures and distributes power and telecommunication cables and wires in Egypt and abroad. Its product portfolio includes low, medium, and high-tension power cables, isolated cables, and telephone communication cables.