Egyptian National Cement Co reports US$11.4m net profit July 2004-Mar 2005

Egyptian National Cement Co reports US$11.4m net profit July 2004-Mar 2005
Published: 10 June 2005

Egyptian cement producer National Cement Company (NCC) posted a net profit of 66.4m Egyptian pounds ($US11.4m/€9.4m) for the first nine months of the fiscal 2004/2005, ending June 30, 2005, up 260 per cent YoY

With the addition of the 242.21m pounds (US$41.8m/€34.1m) resulting from the sale of shares in the local Suez Cement Company, NCC’s profit for the period July 2004 to March 2005 reached 308.64m pounds (US$53.3m/4€3.5m), the company said in a statement.

NCC produced a total of 2.287Mt of clinker in the first nine months of 2004/05, representing 109.6 pct of the planned output for the period and up 6.0 pct on the year. Cement production totalled 1.968Mt equal to 92.7 per cent of the planned output and 93.65 per cent of the production in the year-ago period.

NCC exported 265,000t of clinker, up from 190,000t, while cement sales accounted for 92 per cent of the year-ago sales.