Egypt’s Sinai Cement Q1 net up

Egypt’s Sinai Cement Q1 net up
Published: 17 May 2005

Egypt’s Sinai Cement reported an 82 per cent increase in its 2005 first quarter net profit to 23.99 million Egyptian pounds ($4.14m), the stock market said in a statement received on Monday.  The cement firm made 13.17 million pounds in net profit during the same period of 2004, the stock market said without giving further details.  Egypt’s cement firms have posted favourable results recently on the back of strong local and foreign demand. They have also benefited since 2003 from the devaluation of the pound, making their cement relatively cheaper in the international market.