Egypt- Olympic Q3 earnings decline to $5.3m

14 Nov 2010

(MENAFN) Egyptian appliance maker Olympic Group announced that it has suffered a 55 percent decline in earnings to $5.3 million during the July-September period of 2010, whereas revenues climbed 6.3 percent, reaching $134.2 million, Reuters reported.

Olympic’s January-September figures show a decline in earnings by 19 percent, down to $20.9 million, while revenues rose from $347.8 million to $365.2 million, revealed company officials.

In a push to capture growth in emerging markets, Swedish group Electrolux is set to acquire Olympic Group, which is considered the biggest appliance maker in the Middle East and North Africa.

More News

This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more