Cairo – Mubasher: Electro Cable Co – Egypt announced that its board of directors has decided to offer an unused land plot for sale.
The board decided to sell a land plot, spanning over about 43,000 square metres, to one or more buyers, the company said in a statement to the Egyptian Exchange (EGX) on Monday.
Selling the unused land will have no impact on the company’s activity, the statement added.
During the first quarter of 2019, the Egyptian firm’s net profits hiked to EGP 65.16 million, compared to EGP 10.44 million in the year-ago period.
Sales surged by 139.57% year-on-year to EGP 702.52 million in Q1-19 from EGP 293.24 million.
