Arabian Cement records 96% fall in profit

Egypt’s Arabian Cement has reported a 96.3 per cent YoY decline in consolidated profits for the first quarter of 2019, declining to EGP5.97m (US$350,284) from EGP162.01m in the year-ago period.

Sales fell to EGP827.85m in the 1Q19, compared to EGP913.93 in the corresponding period of last year.

Stand-alone results show a 97.4 per cent decrease in profits to EGP4.23m from EGP160.95m.