Egyptian Electrical Cables H1 Profits Fell 65.8%

Egyptian Electrical Cables (ELEC.CA) reported net profits of EGP 8.966 during the first half of 2012, recording a decline of 65.8%, as the company had posted net profits of EGP 26.193 million a year earlier.

Net sales for H1/2012 hiked to EGP 218.735 million, compared to EGP 215.932 million during H1/2011.

Meanwhile, gross profits – after excluding the cost of sales as well as selling and marketing expenses,  went down to EGP 8.931 million through H1/2012, compared to EGP 37.171 million during H1/2011.

Basic earnings per share reached EGP 0.015 for H1/2012, compared to EGP 0.045 for H1/2011.

Surplus in working capital dropped to EGP 180.447 million during H1/2012, compared to EGP 197.369 million during H1/2011. Total Investments fell to EGP 605.111 million, compared to EGP 624.885 million.