Gadwa for Industrial Development (GDWA), a leading company in the cable and dairy products sectors, reported a 53% increase in its revenues in 2023, reaching EGP 12.24bn, up from EGP 8bn in 2022. The company’s net profits after deducting minority rights surged by about 438% to EGP 1bn in 2023, compared to EGP 186m in 2022. The cable sector accounted for about 65% of the company’s revenues in 2023, with a total of EGP 7.97bn, up from EGP 5.2bn in the previous year, reflecting a 53% growth. On 31 December 2023, the dairy products and retail sector recorded a 95% increase in its revenues, amounting to EGP 2.71bn, compared to EGP 1.39bn in the same period of 2022. The export sector contributed about 44% of the total sales of Arab Dairy, which is the second largest exporter in the dairy products sector in the Egyptian market.

Source: Daily News Egypt March 05, 2024 02:58 UTC