El Sewedy Cables expects 2010 profit rising by 25 pct
Friday, Apr 09, 2010
Egypt's El Sewedy Cables expects net profit to rise 25 percent to around 800 million Egyptian pounds ($145 million) in 2010, it said on Thursday."All investments that were losing in 2009, we expect them to be positive this year," Ahmed El Homosani, investor relations manager, said in a conference call.
Net profit at Sewedy, the largest Arab cable maker by market value, declined 23 percent in 2009 to 633.6 million pounds.
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