Arab Engineering Industries’ Q1 profit surges 366.6% YoY: Egypt

Arab Engineering Industries is an Egypt-based company engaged in the manufacture of wired condensers for household refrigerators

Staff Writer, Arab Finance

May 23, 2023

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Arab Engineering Industries (EEII) reported a 366.64% year-on-year (YoY) jump in profit after tax for the first quarter (Q1) of 2023, according to the company’s financial statement filed to the Egyptian Exchange (EGX) on May 22nd.

The company recorded a net profit after tax of EGP 13.608 million in Q1 2023, compared to a profit of EGP 2.916 million in the prior-year period.

Net sales amounted to EGP 49.026 million in the three-month period ended March 31st, up from EGP 29.901 million in the same period of 2022.

Arab Engineering Industries is an Egypt-based company engaged in the manufacture of wired condensers for household refrigerators, as well as steel wires.

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