Cairo – Mubasher: Elsewedy Electric Co’s net profits for 2020 fell by 24.8% on a yearly basis to reach EGP 3.02 billion, compared with EGP 4.02 billion in 2019.
The company’s revenue stood at EGP 46.4 billion last year, compared to EGP 46.6 billion a year earlier, according to a stock exchange statement on Wednesday.
Meanwhile, the company’s standalone profits registered EGP 2.29 billion in 2020, down from EGP 2.41 billion a year earlier.
In a separate filing, the company said its board proposed a cash dividend distribution of EGP 867.74 million or EGP 0.40 per share to shareholders for 2020.
