Cairo – Mubasher: Electro Cable Egypt generated consolidated net profits after tax standing at EGP 955.41 million in the first nine months (9M) of 2023, versus EGP 263.25 million in 9M-22, including minority interest.
Sales amounted to EGP 5.89 billion in 9M-23, higher year-on-year (YoY) than EGP 3.92 billion, according to the consolidated financial statements.
Earnings per share (EPS) hit EGP 0.29 in January-September 2023, versus EGP 0.08 a year earlier.
Total assets reached EGP 8.06 billion in 9M-23, compared to EGP 4.96 billion as of 31 December 2023.
Standalone Business
Electro Cable Egypt posted standalone net profits after tax valued at EGP 210.81 million as of 30 September 2023, an annual surge from EGP 88.77 million.
Non-consolidated sales enlarged to EGP 3.26 billion in 9M-23 from EGP 2.22 billion in 9M-22, while the profit per share widened to EGP 0.05 from EGP 0.02 a year earlier.
Financials for Q3-23
During the third quarter (Q3) of 2023, the company registered EGP 416.22 million in consolidated net profit after tax, compared to EGP 72.71 million in Q3-22, including minority shareholders' rights.
The revenues hiked to EGP 2.32 billion in Q3-23 from EGP 1.61 billion during July-September 2022, while the EPS increased to EGP 0.13 from EGP 0.03.
Standalone net profits after tax fell to EGP 9.61 million in July-September 2023 from EGP 17.69 million in Q3-22, while the revenues jumped to EGP 1.12 billion from EGP 913.76 million.
In the first half (H1) of 2023, Electro Cable Egypt recorded an annual leap in consolidated net profit after tax to EGP 539.18 million, compared to EGP 190.54 million, including non-controlling equity.
