Cairo – Mubasher: El Sewedy Electric, a leading producer of home appliance and cables, said it posted a 111.6% surge in consolidated net profits for the first quarter of 2015.

The company generated EGP 267.7 million in net profit, up from EGP 126.5 million in the same period a year earlier.

Meanwhile, standalone financial results for the first quarter showed that net loss deepened to EGP 287.2 million, from EGP 19.3 million logged in the same period a year ago.

El Sewedy previously reported EGP 445 million in consolidated net profit for the fiscal year 2014, up 231% from EGP 134.5 million a year earlier.