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Electro Cable Egypt (ECE) recorded a 130.15% year-on-year (YoY) surge in consolidated net profit attributable to the parent company during 2023, according to the financial statement filed to the Egyptian Exchange (EGX) on February 29th.
Consolidated net profit excluding minority interest reached EGP 1.248 billion last year, compared to EGP 542.247 million in 2022.
Sales climbed to EGP 8.673 billion from EGP 5.699 billion.
At the level of the standalone financial statement, the company registered a standalone net profit after tax of EGP 404.120 million in 2023, rising from EGP 141.310 million in 2022.
Electro Cable 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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