Torah Cement sees 23 per cent rise in profit

Torah Cement sees 23 per cent rise in profit
Published: 10 March 2010

Egypt’’s Torah Cement posted a 23 per cent rise in 2009 net profit to E£341.7m, the stock exchange said on Tuesday.

The firm made a net profit of E£277.2m in 2008.

Government stimulus spending on infrastructure and growing demand for housing helped fuel a 25 per cent rise in cement demand last year, with total production topping 50Mt.

Torah is a subsidiary of Egypt’’s largest listed cement maker, Suez Cement, which posted a 25 per cent rise in 2009 net profit last month, driven by higher sales in a construction boom.