Cairo –  Electro Cable Egypt generated EGP 202.17 million in consolidated net profit after tax during the first quarter (Q1) of 2023, up from EGP 71.53 million in Q1-22, including minority interest.

The sales widened to EGP 1.53 billion in January-March 2023 from EGP 1.06 billion in the year-ago period, according to income statements.

Earnings per share (EPS) stood at EGP 0.06 in Q1-23, higher than EGP 0.02 as of 31 March 2021.

Standalone Business

The standalone net profits after tax amounted to EGP 60.14 million during the first three months (3M) of 2023, marking a year-on-year (YoY) surge from EGP 24.03 million.

Non-consolidated sales jumped to EGP 972.89 million in Q1-23 from EGP 636.97 million in Q1-22, while the EPS hiked to EGP 0.01 from EGP 0.006.

During the 12-month period that ended on 31 December 2022, Electro Cable Egypt registered a YoY increase in consolidated net profit after tax to EGP 542.24 million from EGP 224.62 million, including non-controlling equity.

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