Elsewedy’s profits jump to LE 6.5B in 2017



Wed, 28 Feb 2018 - 10:05 GMT


Wed, 28 Feb 2018 - 10:05 GMT

Elsewedy Electric - Company's Website

Elsewedy Electric - Company's Website

CAIRO – 28 February 2018: Elsewedy Electric Co recoded net profit of LE 6.48 billion ($366.63 million) in 2017, compared to LE 3.9 billion in 2016, with a 64 percent increase.

The financial indicators showed that the revenues rose 74.12 percent to LE 42.91 billion, compared to LE 24.64 billion in the prior year.

Costs also leveled up 52.43 percent to LE 33.86 billion during last year, compared to LE 18.71 billion in 2016.

According to the financial indicators, Operating profits recorded LE 9 billion in 2017, compared to LE 5.9 billion in 2016.

During the third quarter of 2017, elsewedy net profit amounted to LE 1.56 billion, against LE 746.6 million in Q3-16.

Net profits rose to LE 3.05 billion in the first half of 2017 from LE 1.66 billion in H1-16.

Elsewedy Electric operates within the Capital Goods sector focusing on Electrical Components and Equipment.

It has 37 subsidiaries operating across Northern Africa, Eastern Africa, Middle East and Southern Europe. Elsewedy Electric is based in Cairo, Egypt and was established in June 2005.



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