US EditionElsewedy Electric, led by Egypt's billionaire El-Sewedy family, posts $2.68 billion in first-half revenue
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Elsewedy Electric, led by Egypt's billionaire El-Sewedy family, posts $2.68 billion in first-half revenue
Key Points Elsewedy Electric grew H1 revenue 20.6% year-on-year to EGP123.8 billion ($2.56 billion), led by wires, cables, and engineering segments.Net profit rose 3.1% year-on-year to EGP8.7 billion ($179.6 million), despite softer margins and a 30% jump in SG&A expenses.CEO Ahmed El-Sewedy reaffirmed commitment to expansion strategy, targeting AI integration and new markets across Africa and the Middle East.Elsewedy Electric, the Cairo-based m…
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