Tora 2004 net profit leaps 176%, Egypt

Tora 2004 net profit leaps 176%, Egypt
Published: 09 February 2005

Net profit at Egypt’s Tora Cement rose 176 per cent in 2004 to E£151.9m (US$26.14,m), the stock exchange said in a statement.

The cement firm had made E£55m in net profit in 2003, the statement said.

Egyptian cement companies benefited last year from strong prices in the local market and the fall of the Egyptian pound against the dollar, making Egyptian exports relatively cheaper.