Elsewedy Electric (SWDY) reported a 194.82% year-on-year (YoY) increase in consolidated net profit attributable to the parent company for the first half (H1) of 2023, according to the company’s consolidated financial statement filed to the Egyptian Exchange (EGX) on August 24th.

Consolidated net profit attributable to the parent company amounted to EGP 5.564 billion in H1 2023, compared to a profit of EGP 1.887 billion in H1 2022.

The company also generated consolidated revenues of EGP 69.637 billion in the first six months this year, up from EGP 38.964 billion in the same half last year.

The company recorded a standalone net profit after tax of EGP 1.430 billion in H1 2023, up from EGP 1.168 billion in H1 2022.

Elsewedy Electric is a leading integrated energy solutions provider in Africa and the Middle East. It has a portfolio incorporating all traditional and renewable energy areas along with related services.

 

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