Arabian Cement Q1 profits drop 41%

Arabian Cement have announced a fall in earnings of 40.5 per cent in 1Q16.

The company earned EGP34.1m (US$3.85m) in 1Q16, compared with the EGP57.3m (US$6.47m) in the same period last year, according to consolidated financial results. Further, the unconsolidated profits for 1Q also fell 40.5 per cent YoY to EGP33.3m, from EGP56m.

In 2015 Arabian Cement’s consolidated profits decreased 26 per cent YoY to EGP277.2m (US$31.2m) from EGP373.7m (US$42m).