CAIRO: Egypt’s El Sewedy Electric, the Arab world’s biggest listed cable maker, posted a 34 percent drop in first-half net profit, according to figures published by the Egyptian stock exchange on Tuesday.
Net profit was LE 352.3 million ($59 million), down from LE 536.1 million in the first half of 2010, the bourse said. Revenues were LE 7.48 billion, up from 5.98 billion a year earlier.
Second-quarter net profit was LE 169.5 million, down from 270.1 million a year earlier.
Sewedy, which has production plants in Egypt and 10 other countries, also makes windfarm equipment.
