Cairo – Mubasher: Electro Cable Co – Egypt recorded a 113.85% year-on-year profit surge during the first half of 2019.

Net profits reached EGP 85.95 million in the six-month period ended 30 June, compared to EGP 40.19 million in the year-ago period, according to a statement to the Egyptian Exchange (EGX) on Sunday.

Year-on-year, sales rose to EGP 1.18 billion in the January-June period of 2019 from EGP 709.82 million.

At the level of standalone business, the EGX-listed firm logged a net profit of EGP 21.17 million in H1-19, compared to EGP 11.61 million in H1-18.

As for the second quarter of 2019, the company’s net profit dipped to EGP 2.39 million from EGP 29.74 million in the corresponding period a year earlier.

During Q1-19, Electro Cable Co – Egypt reported a net profit of EGP 65.16 million, compared to EGP 10.44 million in Q1-18.

Sales soared by 139.57% year-on-year to EGP 702.52 million in Q1-19 from EGP 293.24 million.