Cairo – Mubasher: Electro Cable Egypt posted a consolidated net profit of EGP 535.32 million in the first quarter (Q1) of 2024, up from EGP 202.17 million in the equivalent period a year earlier.

Consolidated sales jumped to EGP 3.07 billion in Q1-24 from EGP 1.53 billion in Q1-23, according to the interim financial results.

The earnings per share (EPS) of the holding company leapt to EGP 0.16 in the first three months (3M) of 2024 from EGP 0.06 in the comparative period the year before.

Standalone Results

The company’s standalone net profit rose to EGP 167.53 million in 3M-24 from EGP 60.14 million in 3M-23.

Standalone sales jumped to EGP 1.55 billion in the three-month period that ended on 31 March 2024 from EGP 972.89 million in the same period a year earlier.

In 2023, Electro Cable Egypt logged a consolidated net profit of EGP 1.24 billion from EGP 542.24 million in 2022.