Egypt-based South Valley Cement Co posted a profit of EGP10.18m (US$597,032)  in 2018, representing a 54 per cent YoY dropwhen compared with EGP22.14m reported in 2017, according to as statement to the Egyptian Exchange (EGX).

Revenues declined to EGP798.93m in 2018 from EGP1.02bn in the previous year. The company’s operating profit margin fell sharply due to higher production costs and a fall in cement prices as supply rose while demand eased.