Electro Cable Egypt sees block trading deal worth over $4mln

The transaction was executed on 235mln of Electro Cable’s shares

Staff Writer, Mubasher

December 19, 2022

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Cairo – The Egyptian Exchange (EGX) announced a block trading deal worth EGP 111.62 million on the shares of Electro Cable Egypt.

The transaction was executed on 235 million of Electro Cable’s shares, according to a stock exchange filing.

In the first nine months (9M) of 2022, Electro Cable reported consolidated net profits after tax worth EGP 263.25 million, versus EGP 147.26 million in 9M-21, including minority shareholders' rights.

Revenues surged to EGP 3.92 billion during January-September 2022, compared to EGP 1.83 billion in the year-ago period.

Moreover, the company's standalone net profits after tax hit EGP 88.77 million in the January-September 2022 period, compared to EGP 59.36 million in the year-ago period.

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