Cairo – Mubasher: The consolidated financial statements of Electro Cable Co. reported net profits of EGP 5.26 million, down by 91.9% from EGP 65.16 million in the year-ago period.
Sales shrank to EGP 379.25 million in the three-month period ended on 31 March from EGP 702.52 million in the corresponding period a year earlier, the company said in a bourse disclosure on Wednesday.
As for standalone business, the company achieved net profits of EGP 870,824 in Q1-20, down from EGP 13.45 million in Q1-19.
It is noteworthy to mention that in 2019, Electro Cable Co’s net profits slid to EGP 166.77 million from EGP 134.81 million in 2018.
