Leading Egyptian electrical company El Sewedy Electric revealed a substantial surge in profits, marking a remarkable growth of 149.5%, reaching a total of 2.9 billion Egyptian pounds for the second quarter of 2023. This substantial increase stands in contrast to the 1.1 billion pounds recorded for the corresponding quarter in the previous year.
Furthermore, the company’s revenues witnessed a significant upswing over the three-month span ending in June, surpassing the 36 billion pounds mark. This performance marks a significant improvement from the 20.3 billion pounds achieved during the same period in 2022.
It is pertinent to note that El Sewedy Electric has exhibited robust net profit growth, with figures reaching 6.1 billion pounds, as compared to the two billion pounds achieved during the corresponding period the previous year.
