Suez Cement Q1 2004

Suez Cement Q1 2004
Published: 26 July 2004

Egyptian cement maker Suez Cement reported a non-consolidated net profit of 69.69 mln Egyptian pounds (US$11.2m) for the first quarter of 2004, compared to a net loss of 6.06 mln pounds (US$976,000) in the same period of 2003.  The positive results came on the back of a 75.5 per cent year-on-year upswing in operating revenue to 210.79 mln pounds (US$33.9m), coupled with a 13.2 per cent  rise in the cost of goods sold to 119.06 mln pounds (US$19.2m). The company’s gross profit soared to 91.73 mln pounds (US$14.8m) from 14.95 mln pounds (US$2.4m).