Cement News tagged under: Misr Cement Qena
Misr Cement Qena reports 9M24 net profits of EGP51m21 November 2024, Published under Cement NewsMisr Cement Qena posted higher consolidated net profits after tax at EGP51.03m (US$1.03m) in the first 9M24, compared to EGP21.75m in 9M23. The revenues reached EGP4.1bn as of 30 September 2024, up from EGP2.83bn in 9M23, according to the consolidated statements. Financials for 3Q24 In the 3Q24 Misr Cement turned profitable at EGP34.10m, compared to net losses valued at EGP41.93m in 3Q23. During the three-month period that ended on 30 September 2024, the sales increased YoY to EGP1.80... |
Misr Cement (Qena) reports revenue advance in 1H2317 August 2023, Published under Cement NewsEgypt-based Misr Cement (Qena) Co has reported net sales of EGP1900m (US$61.49m) for the six months ended 30 June 2023, up from EGP1295m in the same period a year earlier. Net profit before income taxes for the 1H23 has come in at EGP86.37m, down from EGP101.46m in the opening six months of 2022, while operating income has advanced from EGP131.62m in the 1H22 to EGP172.98m in the same period the following year. The second quarter of 2023 saw net sales of EGP994.39m, an advance on the EGP... |
Misr Cement (Qena) posts 9% profit increase17 August 2021, Published under Cement NewsEgypt’s Misr Cement (Qena) has recorded a 9.2 per cent YoY advance in consolidated net profit for the January-June period of 2021, rising to EGP69m (US$4.39m) from EGP63m in the 1H20. However, net revenue declined 4.7 per cent to EGP1.28bn from EGP1.34bn. The company has attributed the increase in profitability to improved efficiency and total exports, which climbed 316 per cent YoY to 169,000t from 41,000t in the first half of 2020. |
Egypt's cement sector sees sales rise 15% YoY15 April 2021, Published under Cement NewsEgypt's cement industry recorded strong sales in March with total sales reaching 4.99Mt, up 22 per cent MoM and 15 per cent YoY. The industry’s utilisation rate also surged to 74 per cent from 60 per cent in February. The average utilisation rate in 2020 was 59 per cent. Watania Cement (Beni Suef) recorded the highest sales of 990,000t with a market share of 20 per cent, according to Daily News Egypt. Therefore, volumes were up 40 per cent MoM and 141 per cent YoY. Sinai Cement reco... |
Misr Cement (Qena) sees consolidated net profit surge 32% YoY17 November 2020, Published under Cement NewsEgypt's Misr Cement (Qena) has reported a consolidated net profit of EGP39.2m (US$2.51m) during the 3Q20, up 31.8 per cent YoY from EGP29.7m. Revenues fell 18.5 per cent to EGP1.84m from EGP2.26m in the year-ago period. In its standalone business, the company saw its net profit surge 106.7 per cent YoY to EGP45.16m from EGP21.85m in the 3Q19. "The company stood alone from all its rivals in the Egyptian market by achieving more remarkable successes in the third quarter of 2020," said Abdel... |
Egypt sees demand rise 10% MoM28 October 2020, Published under Cement NewsEgypt saw total cement sales decline 12.5 per cent YoY to 3.8Mt, including exports, in September, according to Daily News. However, this represents a 10 per cent increase MoM and is the highest monthly cement demand since April 2020. The average industry utilisation rate stood at around 56 per cent in September. Sinai Cement was the best performer in terms of volumes, which increased three per cent YoY. Suez Cement reported sales of 617,000t, up 28 per cent MoM, while Arabian Cement sa... |
Misr Cement Co sees 330% surge in net profit12 August 2020, Published under Cement NewsEgypt’s Misr Cement Co (Qena) has reported a 330 per cent surge in consolidated net profit to EGP63.25m (US$3.96m) for the first half of 2020, against EGP14.69m in the 1H19. Standalone net profit also climbed to EGP42.16m from EGP8.1m, according to a statement filed on the Egyptian Stock Exchange. |
Misr Cement (Qena) records 67% net profit decline15 November 2019, Published under Cement NewsEgypt’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. |
Misr Cement (Qena) records 85% decrease in profit23 August 2019, Published under Cement NewsEgypt’s Misr Cement (Qena) has reported an 85.2 per cent YoY fall in profit to EGP14.69m (US$886,660) for the first six months of 2019, compared to EGP99.37m in the year-ago period. General and administrative expenses rose to EGP79.16m from EGP57.18m in the 1H18. Standalone results saw the company’s net profit decline 84.7 per cent YoY to EGP8.09m from EGP52.84m. |
Misr Cement Qena sees a fall in net profit13 November 2017, Published under Cement NewsMisr Cement Qena has released its financial report for the first nine months of the financial year ended 30 September 2017. The company has seen a fall in consolidated net profit to EGP38.55m (US$2.18m) from EGP234.68m in the year-ago period, according to Arab Finance. The company also reported a standalone net profit of EGP37.52m, down from EGP234.68m of 9M16. |