Cairo – Mubasher: Electro Cable Co reported a 23.7% year-on-year (YoY) growth in its net profits in 2019, according to the company’s consolidated financial statements showed.
The company’s net profits surged to EGP 166.77 million last year from EGP 134.81 million in 2018, according to a bourse disclosure on Monday.
Meanwhile, sales fell to EGP 1.64 billion in 2019, compared to EGP 1.7 billion in the previous year.
As for standalone business, the company’s net profits hiked to EGP 35.67 million last year from EGP 16.66 million in 2018.
It is worth mentioning that during the January-September period of 2019, Electro Cable Co. logged net profits of EGP 116.18 million, up from EGP 87.8 million in the prior-year period, including minority shareholders’ rights.
