El Sewedy Electric Signs $56 Mln Deal With Iraqi Electricity Ministry

Egypt’s El Sewedy Electric (SWDY.CA) , the Arab world’s biggest listed cable maker, has announced that it signed a $56 million cable supply deal with the Iraqi Ministry of Electricity. The company said the deal will be for one year.

Worth mentioning, the consolidated business results for the first half of 2012 revealed that El Sewedy had a net profit of EGP 133.293 million, 62.2% down from a year earlier net profit of EGP 352.294 million.

El Sewedy’s issued capital values at EGP 2.234 billion distributed to 223.418 million securities in which the par value worth EGP 10 per share.