Egypt’s El Sewedy Electric nine-month profit records EGP3.2 bln

Egypt’s El Sewedy Electric revealed on Tuesday its profits rose to 3.2 billion Egyptian pounds ($130,8 million) during the first nine months of the year, up from 2.5 billion pounds in the same period in 2021.

The company recorded combined revenues of 62 billion pounds in January-September 2022, compared to 40 billion in the same period last year, according to its statement sent to EGX.

Moreover, the company has recorded 1.2 billion pounds, from 957 million pounds in the comparison period last year.

According to the company’s statement to EGX, the investments of El Sewedy complex amounted to more than $35 million.