The Egyptian Cement Company (ECC), a subsidiary of construction group Orascom Construction Industries (OCI), produced a total 6.4Mt of clinker in 2003, the company’s board said in its annual report. The clinker was produced at ECC’s four production lines which operated at full capacity. ECC sales reached 6.89Mt of clinker and cement in 2003, of which 4.8Mt were sold on the local market. ECC workforce increased to 1,039 in 2003 from 1,027 in the previous year.
ECC reported a 25.4 per cent year-on-year increase in net profit for 2003 to 306.05 mln Egyptian pounds ($49.5m) The earnings growth followed a 21.7 per cent upswing in net sales to 1.152 bln pounds (US$186.4m), coupled with an increase in the cost of goods sold to 462.88 mln pounds (US$74.9m). As a result, gross profit jumped to 688.71 mln pounds (US$111.4m).