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Electro Cable Egypt logs EGP 1.24bn consolidated net profit in 2023

Electro Cable Egypt logs EGP 1.24bn consolidated net profit in 2023
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Electro Cable
ELEC
3.15% 2.62 0.08

Cairo – Mubasher: Electro Cable Egypt registered a consolidated net profit after income tax of EGP 1.24 billion in 2023, a surge from EGP 542.24 million a year earlier.

Sales leapt to EGP 8.67 billion last year from EGP 5.69 billion in 2022, according to the annual financial results.

The earnings per share (EPS) for the holding company reached EGP 0.37 in 2023, versus EGP 0.16 the year before.

Standalone Financials

The company’s standalone net profit after tax soared to EGP 404.12 million in 2023 from EGP 141.31 million in 2022.

Standalone sales jumped to EGP 4.85 billion last year from EGP 3.15 billion a year earlier.

Electro Cable Egypt’s consolidated net profits after tax hiked to EGP 955.41 million in the first nine months (9M) of 2023 from EGP 263.25 million in 9M-22.