{"id":621906,"date":"2018-11-21T04:17:56","date_gmt":"2018-11-21T04:17:56","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/21\/earnings-watch-elsewedy-electrics-net-profit-and-revenues-fall-in-3q2018\/"},"modified":"2018-11-21T04:17:56","modified_gmt":"2018-11-21T04:17:56","slug":"earnings-watch-elsewedy-electrics-net-profit-and-revenues-fall-in-3q2018","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/21\/earnings-watch-elsewedy-electrics-net-profit-and-revenues-fall-in-3q2018\/","title":{"rendered":"Earnings watch: Elsewedy Electric\u2019s net profit and revenues fall in 3Q2018"},"content":{"rendered":"

EARNINGS WATCH- Elsewedy Electric\u2019s consolidated net profit fell to EGP 1.16 bn in 3Q2018<\/strong> from EGP 1.58 bn during the same quarter last year, the company said in its earnings release (pdf)<\/a>. The company\u2019s consolidated revenues for the quarter also fell to EGP 10.21 bn from EGP 11.46 bn the previous year, which the company attributed largely to lower revenues from turnkey projects. Elsewedy\u2019s \u201ccore wires and cables business is providing the growth expected from a mature anchor segment as margins at our younger segments stabilize at normalized range,\u201d CEO Ahmed Elsewedy said. Looking ahead, Elsewedy expects demand for infrastructure in the GCC and Africa continuing to grow at a fast clip. \u201cHaving secured our turnkey backlog for the coming two-and-a-half years, management is actively exploring the options for expansion, whether organically by extending our geographic reach, or through the synergies to be had by acquisitions.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

EARNINGS WATCH- Elsewedy Electric\u2019s consolidated net profit fell to EGP 1.16 bn in 3Q2018 from EGP 1.58 bn during the same quarter last year, the company said in its earnings release (pdf). The company\u2019s consolidated revenues for the quarter also fell to EGP 10.21 bn from EGP 11.46 bn the previous year, which the company […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[302,152,72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-621906","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-earnings","tag-elsewedy-electric","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"4adc9f31-3243-437c-903a-67db83909c4e","order":"0","is_powered_by":true,"section_story_id":"d272a425-161d-4a63-905a-543a67aaee24","story_type":"1","photo_url":"","photo_position":"above","related_issue":[621886],"teaser":"","voice_url":""},"yoast_head":"\nEarnings watch: Elsewedy Electric\u2019s net profit and revenues fall in 3Q2018 - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2018\/11\/21\/earnings-watch-elsewedy-electrics-net-profit-and-revenues-fall-in-3q2018\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Earnings watch: Elsewedy Electric\u2019s net profit and revenues fall in 3Q2018\" \/>\n<meta property=\"og:description\" content=\"EARNINGS WATCH- Elsewedy Electric\u2019s consolidated net profit fell to EGP 1.16 bn in 3Q2018 from EGP 1.58 bn during the same quarter last year, the company said in its earnings release (pdf). 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