Misr Cement Qena posts 11% 1Q11 drop

Misr Cement Qena posts 11% 1Q11 drop
Published: 13 April 2011

Egypt’s Misr Cement Qena posted an 11 per cent drop in 2011 first quarter net profit to EGP103.7m (US$17m), the stock exchange said on Wednesday.

The firm is one of the first to report first quarter results, which analysts have been waiting for keenly as an indication of how strongly companies were affected by the political turmoil that toppled President Hosni Mubarak.

Misr Cement’s profit in the first quarter of 2010 was EGP117.7m.

Source: Reuters