Egypt: Suez Cement 2Q net profit drops 57%

Suez Cement posted a second-quarter net profit of EGP60.9m (US$7.8m) on Tuesday, down 57.2 per cent from the EGP142.5m recorded a year earlier.

Revenue over the three month period declined by 15 per cent due to lower prices and exports.

Suez Cement said it was diversifying its energy sources to mitigate the impact of shortages which "affected negatively the company's profits".