Egyptian Misr Beni Suef net profit soars 290% YoY

Egyptian Misr Beni Suef net profit soars 290% YoY
Published: 21 November 2005

The net profit of Egyptian cement producer Misr Beni Suef Cement (MBSC) jumped 290 per cent YoY to E£101m (US$17.5m) in the first nine months of 2005. 
 
The upsurge in earnings resulted mainly from the 40 per cent increase in net sales to E£284.5m (US$49.4m). The cost of sales rose 31.6 per cent to E£138.33m ($24 mln/20.4 mln euro), which led to a gross profit of E£146.16m (US$25.4m), up from E£97.98m (US$17m).
 
Misr Beni Suef Cement has an issued capital of E£200m (US$34.7m) divided into 20 million shares with a face value of 10 pounds ($1.7/1.4 euro). The company is traded on the Cairo and Alexandria Stock Exchanges (CASE) under the MBSC.CA symbol.