Electro Cable Egypt rejects substitute its land with Qalyubia governorate

ArabFinance: Electro Cable Egypt’s (ELEC) extraordinary general assembly decided not to substitute its land totaling 10,000 square meters with Al Qalyubia governorate’s 9943.36-sqm land.

On May 7^th, the general assembly approved amending the company’s articles of association.

The company reported a 23.7% Year on Year increase in its net consolidated profit for 2019.

The company posted a net consolidated profit of EGP 166,778,241 in 2019, compared to EGP 134,816,477 in the corresponding year, according to the released financial statement.

However, the company achieved standalone profit worth EGP 35,679,423 in 2019, compared to EGP 16,667,417 in 2018.

Electro Cable Egypt Co. SAE (ECE) is an Egypt-based public shareholding company that operates in the electric components manufacturing sector. The company manufactures and distributes power and telecommunication cables and wires in Egypt and abroad. Its product portfolio includes low, medium and high tension power cables, isolated cables and telephone communication cables.

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