The Clap El Sewedy Electric (SWDY) recorded net profits of EGP 761 million Q1-2022, an increase of 8.7% YoY.
Revenues witnessed a significant increase of 51.1% on an annual basis, reaching EGP 18.6 billion in Q1-2022.
Profit drivers The company attributed the increase in profits to the growth of the wires and cables sector. The sector’s profits increased by 36.1% YoY, as a result of increased prices due to inflation.
As for the contracting projects sector, profits flourished due to an increase in demand, recording a 34% YoY increase in profits.