Helwan Cement Announces 9M FY04 Results

Helwan Cement Announces 9M FY04 Results
Published: 13 December 2004

Helwan Cement announced 9M FY04 results ending September, wherein the company posted a LE1.8 million net profit balance compared to a LE44.8 million net loss incurred in 9M FY03. Sales revenues advanced a relatively subdued 6.5% y-o-y to reach LE631.1 million versus a comparable LE592.4 million, while the COGS/Revenues ratio improved a considerable 740 bps to 67.1 per cent versus a previous 74.5 per cent. Moreover, the company witnessed a 25.7 per cent annual decline in interest expense, culminating at LE148.5 million, which accompanied by a zero balance booked in the form of provisions compared to LE10.4 million in 9M FY03, aided in the bottom line improvement.