Misr Cement (Qena) records 67% net profit decline

Egypt’s Misr Cement (Qena) has recorded a 67 per cent YoY net profit fall to EGP29.7m (US$1.84m) during the first nine months of 2019, compared to EGP89.42m in the year-ago period. However, sales increased 5.9 per cent YoY to EGP2.36bn from EGP2.22bn.

In its standalone results, the company saw a 68.9 per cent YoY decline in net profit to EGP21.8m in the 9M19.