Egypt’’s Torah Cement posted a 23 per cent rise in 2009 net profit to E£341.7m, the stock exchange said on Tuesday.
The firm made a net profit of E£277.2m in 2008.
Government stimulus spending on infrastructure and growing demand for housing helped fuel a 25 per cent rise in cement demand last year, with total production topping 50Mt.
Torah is a subsidiary of Egypt’’s largest listed cement maker, Suez Cement, which posted a 25 per cent rise in 2009 net profit last month, driven by higher sales in a construction boom.
Published under Cement News