FINANCIAL NEWS

Egypt’s El Sewedy’s earnings surge 30% to $126.4m

14 Nov 2010

(MENAFN) Egyptian cable maker group, El Sewedy Electric, announced that it has achieved a net profit of $126.4 million during the first three quarters of the current year, compared to $97.3 million during the corresponding period a year earlier, registering a 30 percent climb, Reuters reported.

El Sewedy is an Egypt-based integrated cables and electrical products manufacturer in the Middle East, which specializes in providing complete and integrated energy solutions in various sectors such as telecom, energy management, turn-key projects, electrical products and wind energy generation

The cable maker employs more than 10,000 individuals who work in 23 production facilities located in 12 countries around the world. The company exports its products to more than 110 countries worldwide and supply approximately 56 percent of Egypt’s global market in the industrial sector.

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