Egyptian cement company Beni Suef Cement reported a net loss of 318.8m Egyptian pounds (US$51.7m) for 2003, up from 84.92m pounds (US$13.8m) in 2002. The wider net loss came despite an 11.4 per cent year-on-year increase in net sales to 244.28m pounds (US$39.6m), coupled with a 6.6 per cent growth in the cost of goods sold to 186.49 mln pounds. Beni Suef Cement has a capital of 330 mln pounds ($53.5m) divided into 33 million shares at a par value of 10 pounds ($1.62/1.32 euro). The company is 95 per cent owned by French building materials group Lafarge and Greek cement producer Titan through their 50/50 joint venture Lafarge Titan Egyptian Investments Limited. The remaining 5.0 per cent are owned by the company’s employees who have recently offered their stake for sale. Published under Cement News
Egyptian cement company Beni Suef Cement reported a net loss of 318.8m Egyptian pounds (US$51.7m) for 2003, up from 84.92m pounds (US$13.8m) in 2002. The wider net loss came despite an 11.4 per cent year-on-year increase in net sales to 244.28m pounds (US$39.6m), coupled with a 6.6 per cent growth in the cost of goods sold to 186.49 mln pounds. Beni Suef Cement has a capital of 330 mln pounds ($53.5m) divided into 33 million shares at a par value of 10 pounds ($1.62/1.32 euro). The company is 95 per cent owned by French building materials group Lafarge and Greek cement producer Titan through their 50/50 joint venture Lafarge Titan Egyptian Investments Limited. The remaining 5.0 per cent are owned by the company’s employees who have recently offered their stake for sale. Published under Cement News
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