Egypt’s Misr Cement Qena 9-month net up 19%

Egypt’s Misr Cement Qena 9-month net up 19%
Published: 11 November 2010

Egypt’s Misr Cement Qena’s net profit rose 18.8 per cent in the first nine months of 2010, the stock exchange said on Wednesday.

Net profit rose to E£313.9m (US$54.6m) from E£264.2m in the first nine months of 2009.

Misr Cement Qena is 27.6 per cent owned by ASEC, which is the cement division of private equity firm Citadel Capital .

Misr Cement Qena formed a E£43m joint venture last May to make ready-mix concrete in southern Egypt.