Suez Cement nine-month net profit dips, Egypt

Suez Cement nine-month net profit dips, Egypt
Published: 28 October 2010

Over the first 9 months of 2010 Suez Cement group, composed of Suez Cement Company, Helwan Cement Company and Tourah Portland Cement Company, and all the affiliated companies reported a consolidated net sales of EGP4,687m, down 2.1 % compared to the same period of 2009. Gross profit and operating income amounted respectively to EGP1,698m and EGP 1256m while the net profit ”after non-controlling interest” amounted to EGP906,7m – down 8.5 % compared to the same period of 2009.

Over the first 9 months of 2010 Egypt’s domestic grey cement consumption increased by 2.8 per cent compared to the same period of 2009 while the sales of  Suez Cement group of Companies decreased  by 4.6 per cent over the same period.