A significant deal was executed today on the Egyptian Stock Exchange for shares of the “Egyptian Cable Company,” amounting to 114.6 million Egyptian pounds. A total of 42.15 million shares were traded. This comes after the company reported a notable rise in net profits, reaching 1.3 billion pounds for the period from January to September 2024, compared to 955.41 million pounds during the same period last year.
Strong Profit Growth and Rising Revenues
Sales also saw an impressive jump, reaching 10.67 billion pounds during the first nine months of 2024, up from 5.89 billion pounds in 2023. The growth in profits and sales reflects the company’s robust performance despite market challenges.
Independent Profits Soar
Independent profits increased to 435.65 million pounds in the same period, compared to 210.8 million pounds last year, signaling strong operational management and a positive outlook for the company in the Egyptian market.
Outlook for the Future
The continued rise in profits positions Egyptian Cable Company for further growth, and it could expand its influence regionally and internationally, reinforcing its strong position in the industry.