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ELSEWEDY ELECTRIC Records exponential growth with over a twofold increase in revenues for the fourth consecutive quarter
[15 Nov 2017]

ELSEWEDY ELECTRIC (SWDY.CA on the Egyptian stock exchange), the leading Wires & Cables and Integrated Energy Solution Provider in the Middle East and Africa, announces its consolidated financial results for the nine-month period ending 30 September, 2017. Net profit in 9M 2017 recorded EGP 4,567.1 million, up 94.2% year-on-year, on revenues of EGP 32,118.2 - up more than 100% year-on-year for the fourth consecutive quarter - yielded a net profit margin of 14.2%.

Note from Our CEO

Our 9M 2017 results stand testament to our ability to continuously drive strong and sustainable growth, with both our top- and bottom-lines delivering twofold increases for four consecutive quarters.

While the MENA region is currently facing some headwinds affecting short-term growth prospects, we remain confident in the region’s solid fundamentals in the long haul. We are also actively seeking avenues for growth in existing and new MENA markets as we seek to capitalize on their favourable trends and early-mover advantages.

We have successfully leveraged our regional position as a multi-country player with strong foreign currency proceeds, and our focus for the coming period will see us take active measures to ensure this trajectory does not falter. El Sewedy Electric will continue to drive organic growth of its core businesses while maintaining tight cost controls to further cement our competitiveness. In parallel, we are strengthening our organisation through the standardization of our internal procedures, adopting world-class corporate governance frameworks and developing our human resources as our key success pillar. Our goal is simple: the continued creation of sustainable long-term value for our stakeholders.

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