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Electro Cable earnings jump four-fold in 2014

Electro Cable earnings jump four-fold in 2014
Photo Credit: Arabianeye-Reuters
Electro Cable
ELEC
-8.46% 2.38 -0.22

Electro Cable–Egypt earnings hit a record high in 2014 as they jumped four-fold by a round 460% compared to the previous year, said the company in a bourse statement.

The company posted net profits of EGP 43.7 million ($6.5 million) for 2014, compared with EGP 7.8 million ($7.3 million) for 2013.

Electro Cable is capitalised at EGP 496.4 million, divided into 496.4 million shares at EGP 1 par value each.