Cairo – Mubasher: The consolidated net profit after tax of Electro Cable Egypt reached EGP 539.18 million in the first half (H1) of 2023, higher than EGP 190.54 million in H1-22, including non-controlling equity.
The EGX-listed firm posted an annual hike in sales to EGP 3.56 billion during the January-June 2023 period, compared to EGP 2.31 billion, according to the consolidated financial results.
Earnings per share (EPS) grew to EGP 0.16 in H1-23 from EGP 0.05 in H1-22.
Standalone Business
During the first six months (6M) of 2023, Electro Cable Egypt registered EGP 201.19 million in standalone net profit after tax, an annual rise from EGP 71.07 million.
Non-consolidated sales increased to EGP 2.14 billion as of 30 June 2023 from EGP 1.31 billion in the year-ago period, whereas the EPS climbed to EGP 0.05 from EGP 0.02.
Financials for Q2-23
In the second quarter (Q2) of 2023, the firm generated consolidated net profit after tax valued at EGP 337.01 million, marking a year-on-year (YoY) leap from EGP 119.01 million, including non-controlling equity.
The consolidated sales jumped to EGP 2.03 billion in April-June 2023 from EGP 1.24 billion in Q2-22, while the EPS increased to EGP 0.10 from EGP 0.03.
As for the standalone business, the net profits after tax surged to EGP 141.04 million in Q2-23 from EGP 47.03 million a year earlier, while the sales widened to EGP 1.16 billion from EGP 674.34 million.
In the three-month period that ended on 31 March 2023, the company witnessed YoY higher consolidated net profit after tax at EGP 202.17 million, versus EGP 71.53 million, including minority interest.
