Egypt’s Sinai Cement posts Q1 net profit of US$27.7m

Egypt’s Sinai Cement posted consolidated net profit of EGP156m (US$27.7m) in the first quarter of 2010, the stock exchange said on Tuesday. 

The statement did not provide a comparative consolidated profit figure for last year but said non-consolidated net profit for the first quarter of 2010 was EGP155.3m, down from EGP158m the same period last year.

Shares in Sinai Cement, the local unit of France’s Vicat , closed 0.5 per cent higher at EGP49.5 . The benchmark index closed 1.8 per cent higher.