The company posted a 36% Year on Year decline in its consolidated net profit in the first nine months of 2020
Image used for illustrative purpose. Electric power substation.
By Staff Writer, Arab Finance
ArabFinance: Elsewedy Electric’s (SWDY) consolidated net profit decreased to EGP 3.027 billion in 2020, compared to EGP 4.02 billion in 2019, the company disclosed to the Egyptian Exchange on February 24th.
Standalone net profit reached EGP 2.29 billion in 2020, compared to EGP 2.41 billion in 2019.
Elsewedy Electric posted a 36% Year on Year decline in its consolidated net profit in the first nine months of 2020, registering EGP 1.73 million, compared to EGP 2.71 billion during the same period the year before.
The listed company is a provider of integrated energy solutions in Africa and the Middle East, and a manufacturer of cables and meters, especially smart meters. It has a portfolio incorporating all traditional and renewable energy areas along with related services.
Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.