Egyptian National Cement

Egyptian National Cement
Published: 06 October 2004

Egypt’s National Cement Company (NCC) reported a net profit of 27.51 mln Egyptian pounds ($4.4m) for the fiscal 2003/04, ended June 30, 2004, compared to a net loss of 91.35 mln pounds ($14.7m) in 2002/03.  NCC’s operating revenue jumped 47.17 pct year-on-year to 577.8 mln pounds ($92.7m), while the cost of sales increased 15.4 pct to 472.23 mln pounds ($75.8m). As a result, the company reported a gross profit of 105.57 mln pounds ($16.9m), compared to a gross loss of 16.47 mln pounds ($2.6m).  NCC is an affiliate of the state-owned Chemical Industries Holding Company (CIHC). It has an issued capital of 206.4 mln pounds ($33.1m), divided into 103.2 million shares at a par value of 2.0 pounds ($0.32).