Beni Suef Cement reports modest revenue increase in 2Q19

Egypt's Misr Beni Suef Cement saw a one per cent YoY increase in revenue to EGP454m (US$27.4m) in the 2Q19, supported by increased sales despite the Ramadan and Eid holidays. However, net profit was down 82 per cent YoY to EGP16m.

The company may consider new investment opportunities worth up to EGP1bn during the coming period, as the company looks to benefit from a cash balance of over EGP1bn, according to Daily News Egypt. Meanwhile, it has reportedly reduced its production rate in accordance with the oversupply in the market.