Cairo – Mubasher: Elsewedy Electric Co reported consolidated net profits of EGP 3.81 billion in 2021, up 15.2% from EGP 3.31 billion in 2020, including minority shareholders' rights.
The company's revenues jumped by 30.5% to EGP 60.54 billion in 2021, compared to EGP 46.4 billion in the earlier year, according to a bourse filing on Wednesday.
As for standalone businesses, the company's net profits declined to EGP 1.12 billion in 2021 from EGP 2.299 billion in the previous year.
It is noteworthy to mention that in the nine-month period ended 30 September 2021, the company logged consolidated net profits of EGP 2.51 billion, up by 30% year-on-year (YoY) from EGP 1.93 billion, including minority shareholders' rights.
