Cairo – Mubasher: Electro Cable Co - Egypt on Monday announced it has turned profitable during the first nine months of 2018 on the back of a growth in sales.

Consolidated profit amounted to EGP 87.8 million in the January-September period of this year, against a net loss of EGP 12.2 million in the same period a year earlier, including minority shareholders’ rights, the company said in a filing to the Egyptian Exchange (EGX).

Sales grew to EGP 1.2 billion in the nine-month period from EGP 750.9 million in the year-ago period.

At the level of standalone business, profits totaled EGP 20.26 million at the end of September, versus losses of EGP 27.48 million in the prior-year period.

Electro Cable previously reported a net profit of EGP 40.19 million in the first half of 2018, compared to losses of EGP 26.45 million in H1-17.