Helwan Cement announced 9M FY04 results ending September, wherein the company posted a LE1.8 million net profit balance compared to a LE44.8 million net loss incurred in 9M FY03. Sales revenues advanced a relatively subdued 6.5% y-o-y to reach LE631.1 million versus a comparable LE592.4 million, while the COGS/Revenues ratio improved a considerable 740 bps to 67.1 per cent versus a previous 74.5 per cent. Moreover, the company witnessed a 25.7 per cent annual decline in interest expense, culminating at LE148.5 million, which accompanied by a zero balance booked in the form of provisions compared to LE10.4 million in 9M FY03, aided in the bottom line improvement. Published under Cement News
Helwan Cement announced 9M FY04 results ending September, wherein the company posted a LE1.8 million net profit balance compared to a LE44.8 million net loss incurred in 9M FY03. Sales revenues advanced a relatively subdued 6.5% y-o-y to reach LE631.1 million versus a comparable LE592.4 million, while the COGS/Revenues ratio improved a considerable 740 bps to 67.1 per cent versus a previous 74.5 per cent. Moreover, the company witnessed a 25.7 per cent annual decline in interest expense, culminating at LE148.5 million, which accompanied by a zero balance booked in the form of provisions compared to LE10.4 million in 9M FY03, aided in the bottom line improvement. Published under Cement News
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