Elsewedy Electric records profit of LE 1.02B in 6 months

CAIRO – 23 August 2020: Elsewedy Electric Company’s (SWDY) consolidated results showed a 47 percent decline in its profits during the first six months of 2020, recording LE 1.02 billion, compared to LE 1.95 billion in the same period of 2019. 

The indicators showed that revenues during the first half of the year hit LE 20.11 billion, compared to LE 21.55 billion during the same period of the prior year. 

Moreover, the company’s standalone profits recorded LE 2.15 billion during the period of 2020, compared to LE 2.08 billion during the same months of 2019. 

Elsewedy Electric recoded net profit of LE 463.69 million during the first three months of 2020, compared to LE 995.5 billion in the same months of 2019. 

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.