Egypt’s El Sewedy Electric posts Q1 net profit of US$35 mn

Egypt's El Sewedy Electric achieved a first-quarter net profit of LE267.7 million (US$35 million) versus 126.5 million a year earlier, it said in a statement on the Egyptian stock exchange on Tuesday.

El Sewedy Electric, the leading wire, cable and integrated energy solution provider in the Middle East and Africa, had announced that its gross profit increased by 25 percent to reach LE2.583 billion during Fiscal Year 2014, versus LE 2.065 billion in FY 2013.


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