Cairo – Mubasher: The consolidated financial statements of Electro Cable Co. showed a 32% year-on-year profit rise during the first nine months of 2019.
Net profits increased to EGP 116.18 million in the nine-month period ended 30 September, compared to EGP 87.8 million in the same period a year earlier, including minority shareholders’ rights, the company said in a statement to the Egyptian Exchange (EGX) on Monday.
In the meantime, sales grew to EGP 1.59 billion in the January-September period from EGP 1.29 billion in the prior-year period.
As for the third quarter of the year, Electro Cable Co posted a net profit of EGP 30.23 million, down from EGP 47.6 million in Q3-18.
At the level of standalone business for the January-September period, the Egyptian firm’s net profit went up to EGP 27.7 million from EGP 20.26 million in the corresponding period of 2018.
