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  1. #1
    dR Dazzler
    Join Date
    Jan 2010

    Default Egypt's Sewedy H1 net profit drops 34 %

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    CAIRO- Egypt's El Sewedy Electric (SWDY), 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 352.3 million Egyptian pounds ($59 million), down from 536.1 million pounds in the first half of 2010, the bourse said. Revenues were 7.48 billion pounds, up from 5.98 billion a year earlier.

    Second-quarter net profit was 169.5 million pounds, down from 270.1 million a year earlier.

    Sewedy, which has production plants in Egypt and 10 other countries, also makes windfarm equipment.



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