Cairo – Mubasher: Electro Cable Egypt registered consolidated net profits amounting to EGP 1 billion in the first half (H1) of 2024, marking a leap from EGP 539.18 million in H1-23.

Total revenues reached EGP 6.64 billion in H1-24, higher year-on-year (YoY) than EGP 3.56 billion, according to the financial statements.

Basic earnings per share (EPS) hit EGP 0.30 as of 30 June 2024, compared to EGP 0.16 in H1-23.

The assets amounted to EGP 12.48 billion in H1-24, up from EGP 8.90 billion as of 31 December 2023.

Results for Q2-24

Electro Cable Egypt recorded consolidated net profits valued at EGP 466.56 million in the second quarter (Q2) of 2024, compared to EGP 337.01 million in Q2-23.

The revenues hiked to EGP 3.56 billion in April-June 2024 from EGP 2.03 billion a year earlier, while the EPS increased to EGP 0.14 from EGP 0.10.

In the first three months (3M) of 2024, the company’s consolidated net profit stood at EGP 535.32 million, higher than EGP 202.17 million in Q1-23.