El Sewedy Electric Q1 net profit surges to LE 1.5B

CAIRO – 24 May 2017: El Sewedy Electric Company's first-quarter net profit climbed to LE 1.5 billion ($82.9 million), compared to LE 767 million within the same period in 2016, the company said in a Wednesday statement to the Egyptian Exchange.

The earnings per share recorded LE 6.91, compared to LE 3.39 year on year in the first quarter of 2017, the company outlined in its Q1 consolidated revenue report.

The company further noted that the standalone net profit jumped to about LE 115 million, up from LE 24 million in the same period a year earlier.