El Sewedy net income down 34pc
Cairo, April 2, 2012
Egypt's El Sewedy Electric, the Arab world's biggest listed cable maker, posted a 34 percent drop in its consolidated net profit for 2011, according to figures published by the Egyptian stock exchange on Monday.
Net profit fell to 536.5 million Egyptian pounds ($88.82 million) from 816.6 million pounds in 2010, the bourse said. On an unconsolidated basis, net income slumped by 70 percent to 252.6 million pounds. - Reuters
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