Egypt’s South Valley 2007 net profit $107m

Egypt’s South Valley 2007 net profit $107m
Published: 09 April 2008

Egypt’s South Valley Cement achieved a net profit of E£582.2m (US$107m) in 2007, more than twice what it made in 2006, the stock exchange said in a statement on Tuesday.  
 
The company’s net profit in 2006 was E£264.9m, it added.  
 
Egyptian cement companies have benefited from recent high prices and strong demand from abroad. The government imposed a temporary ban on exports from March to October to hold down prices on the domestic market.