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Egypt El Sewedy Q1 net profit surges 78 pct PDF Print E-mail
Written by Egypt News   
Tuesday, 20 May 2008
Egypt + Egyptian El Sewedy CablesEgyptian El Sewedy Cables SWDY.CA net profit after tax and minority interest surged 78 percent in the first quarter of 2008 to 260 million Egyptian pounds ($48.6 million), the company said on Tuesday

Sewedy, one of the biggest cable manufacturers in the Middle East, had reported net profit of 146 million pounds in the first quarter of 2007.
Total revenue jumped 49 percent to 2.98 billion pounds, with wire and cable continuing to be the largest contributor, at 85 percent of sales, the firm said.
Gross operating profit rose 91 percent to 482 million pounds, excluding depreciation. Earnings before interest, tax depreciation and amortization climbed 69 percent to 363 million pounds.
Sewedy shares were up 0.7 percent at 125 pounds by 0808 GMT.

EGYPT NEWS 

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