Egyptian Cement Company H1 2006 Net Profit Up to US$103.2m

Egyptian Cement Company (ECC) booked a net profit of 592.1 mln Egyptian pounds (US$103.2 mln/80.1 mln euro) for the first half of 2006 compared to 435.3 mln pounds (US$75.8 mln/58.9 mln euro) in the year-earlier period, it was reported on September 6, 2006.  

ECC was listed on the Cairo and Alexandria Stock Exchanges (CASE) on March 18, 2002 and is traded under the ECEM.CA symbol on the Unofficial Schedule 2 of the exchange. Its capital is divided into 812,000 shares at 1,000 pounds (US$174.25/135.36 euro) par. Market capitalisation stands at 349.6 mln pounds (US$60.9 mln/47.3 mln euro).  

ECC ( www.egyptiancement.com ), a 54 per cent owned subsidiary of Orascom Construction Industries (OCI), was formed in 1996 and began cement production in December 1998.  

OCI ( www.orascomci.com ) is in its turn a part of the Orascom group of companies, which also includes Orascom Telecom Holding, Orascom Hotels and Development and Orascom Technology Solutions.  

Swiss cement company Holcim ( www.holcim.com ) is also a shareholder.