Electro Cable Egypt sees 41% profit jump in 9 months
Updated 11/15/2021 2:45:55 PM
ArabFinance: Electro Cable Egypt (ECE) (ELEC) reported a 41% Year on Year (YoY) increase in its consolidated net profit during the January-September period of 2021, the company said in a statement to the Egyptian Exchange.
Consolidated net profit stood at EGP 147.26 million during the first nine months of 2021, compared to EGP 104.38 million in the corresponding period of 2020.
The company’s standalone net profit recorded EGP 59.36 million by the end of September 2021, compared to EGP 52.25 million in September 2020.
During the first half of 2021, the listed company posted a consolidated net profit before minority interest of EGP 108.46 million.
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.
