Suez Cement 2008 profit up six per cent

Suez Cement 2008 profit up six per cent
Published: 01 April 2009

Egyptian Suez Cement posted a six per cent rise in 2008 net profit to E£1.04bn, the stock exchange said on Tuesday.

Egypt’s second largest cement maker, Misr Beni Suef Cement, posted a 4.8 per cent rise in full-year profit to E£202m on Sunday.

Last month, Egypt announced measures to control the retail price of cement, requiring producers to fix a maximum price at every stage of the distribution process.

Last August, executives at a number of Egyptian cement firms were fined E£10m each for price fixing.