Egypt’s El Sewedy Electric profits double to EGP 2.9 bln in 3 months
El Sewedy Electric, an Egyptian electrical company, said on Thursday that its profit doubled by 149.5 percent to reach 2.9 billion Egyptian pounds during the second quarter of 2023, from 1.1 billion pounds for the same quarter last year.
The revenues jumped during the three months ending in June to exceed 36 billion pounds, compared to 20.3 billion pounds for the same period in 2022.
It is worth mentioning that the company has achieved a net profit growth of 6.1 billion pounds, compared to two billion pounds for the same period in last year.
