ArabFinance: Electro Cable Egypt (ECE) (ELEC) has recorded a consolidated net profit attributable to the parent company of EGP 224.62 million in 2021, up from EGP 133.50 million in 2020, according to the company’s financial statements filed to the Egyptian Exchange (EGX).

The company has recorded consolidated sales of EGP 2.66 billion last year, compared to sales of EGP 1.74 billion in 2020.

At the level of standalone financial statement, the company posted a standalone net profit after tax of EGP 72.90 million in 2021, compared to a profit of EGP 65.40 million in 2020.

 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.