Egypt’s El Sewedy Electric half-year revenues jump to EGP 38 billion

Egypt’s El Sewedy Electric said on Tuesday its revenues climbed to 38 billion Egyptian pounds ($2 billion) in the first half of the year.

Earlier, revenues stood at 26 billion pounds in the first half of 2021.

Net profit surged 16 percent year-on-year to 2 billion pounds in the January-June 2022 period, from 1.7 billion pounds in the same period last year, the company added in a bourse filling.

Standalone profits reached 1.1 billion pounds from 55 million pounds last year.