Cairo – Mubasher: Electro Cable Co’s board of directors approved the sale of the land plot no. 31 and the buildings located on it in the eighth industrial zone in Sadat City, El-Menofia Governorate, to Cairo Leasing Corporation.
The decision will be referred to the company’s extraordinary general meeting (EGM) on 30 March for approval, according to a bourse disclosure on Monday.
In 2020, the company logged EGP 133.5 million in net profits, down from EGP 166.77 million a year earlier.
In addition, revenues declined to EGP 1.74 billion last year from EGP 2.03 billion in 2019.
