Cement News tagged under: Misr Beni Suef Cement
Misr Beni Suef Cement sees profits surge to EGP48m in 1Q2231 May 2022, Published under Cement NewsEgypt-based Misr Beni Suef Cement reported net profits after tax of EGP47.65m (US$2.56m) in the 1Q of 2022, up from EGP37.42 in the 1Q21. The company’s revenues advanced to EGP436.38m in the 1Q22from EGP255.92m in the year-ago period, according to a bourse disclosure on 30 May 2022. |
Misr Beni Suef Cement net profit surges to EGP169m in 202101 March 2022, Published under Cement NewsEgypt-based Misr Beni Suef Cement reported a net profit after tax of EGP169.05m (US$10.8m) for 2021, surging from EGP76.38m in 2020, according to the company’s financial statement filed to the Egyptian stock exchange (EGX). Sales slipped to EGP1.12bn last year from EGP1.19bn in 2020. |
Egypt's cement sector sees sales rise 15% YoY15 April 2021, Published under Cement NewsEgypt's cement industry recorded strong sales in March with total sales reaching 4.99Mt, up 22 per cent MoM and 15 per cent YoY. The industry’s utilisation rate also surged to 74 per cent from 60 per cent in February. The average utilisation rate in 2020 was 59 per cent. Watania Cement (Beni Suef) recorded the highest sales of 990,000t with a market share of 20 per cent, according to Daily News Egypt. Therefore, volumes were up 40 per cent MoM and 141 per cent YoY. Sinai Cement reco... |
Egypt sees demand rise 10% MoM28 October 2020, Published under Cement NewsEgypt saw total cement sales decline 12.5 per cent YoY to 3.8Mt, including exports, in September, according to Daily News. However, this represents a 10 per cent increase MoM and is the highest monthly cement demand since April 2020. The average industry utilisation rate stood at around 56 per cent in September. Sinai Cement was the best performer in terms of volumes, which increased three per cent YoY. Suez Cement reported sales of 617,000t, up 28 per cent MoM, while Arabian Cement sa... |
Misr Beni Suef Cement records 84% rise in profit18 August 2020, Published under Cement NewsEgypt’s Misr Beni Suef Cement Co has seen its profit rise 84 per cent YoY to EGP29.5m (US$1.85m) during the second quarter of 2020, against EGP16m in the 2Q19. The company also reported a 94 per cent increase in profit to EGP88.77m in the 1H20, compared to EGP45.66m in the corresponding period of 2019. However, revenue declined 52 per cent YoY to EGP216m. Cement sales, including exports, also fell 53 per cent YoY, which was attributed to the continued oversupply alongside the effects o... |
Egypt sees cement sales surge 42% in June21 July 2020, Published under Cement NewsEgypt's cement industry has reported a sudden surge in total sales, recording 3.64Mt during June 2020, including minimal exports, up 42 per cent MoM and one per cent YoY. June's improvement follows on from one of the lowest monthly sales run rates on record during May, which were impacted by the coronavirus (COVID-19) pandemic and the partial lockdowns. The MoM turnaround was recorded across companies including Suez Cement, which reported a sales growth of 55 per cent MoM and 24 per cent... |
Beni Suef Cement sees 101% surge in net profit18 May 2020, Published under Cement NewsEgypt’s Misr Beni Suef Cement has reported a 101 per cent YoY increase in net profit to EGP59.37m (US$3.77m) in the first quarter of 2020, compared to EGP29.53m in the corresponding period of last year. However, sales declined 7.1 per cent YoY to EGP404.96m from EGP435.97m. |
Beni Suef Cement records 6% dip in revenue18 November 2019, Published under Cement NewsEgypt’s Misr Beni Suef Cement has noted a 72 per cent YoY profit decline to EGP67.11m (US$4.16m) in the first nine months of 2019, against EGP237.8m in the 9M18. Revenues were also down 6.2 per cent YoY to EGP1.36bn from EGP1.45bn in the January-September 2018 period. |
Beni Suef Cement reports modest revenue increase in 2Q1904 September 2019, Published under Cement NewsEgypt's Misr Beni Suef Cement saw a one per cent YoY increase in revenue to EGP454m (US$27.4m) in the 2Q19, supported by increased sales despite the Ramadan and Eid holidays. However, net profit was down 82 per cent YoY to EGP16m. The company may consider new investment opportunities worth up to EGP1bn during the coming period, as the company looks to benefit from a cash balance of over EGP1bn, according to Daily News Egypt. Meanwhile, it has reportedly reduced its production rate in acco... |
Misr Beni Suef and Alexandria Cement report improved results in 201801 March 2019, Published under Cement NewsEgypt-based cement companies Misr Beni Suef Cement and Alexandria Cement have posted improved results in 2018. Misr Beni Suef Cement posted net profits of EGP241.491m (US$13.8m) in 2018, more than twice its net profits of EGP110.616m announced in 2017. Alexandria Cement reported a reduction in its consolidated net loss in 2018, which fell to EGP394.166m from EGP513.934m in 2017. Stand-alone losses also decreased to EGP251.976m in 2018 to EGP401.794m in the previous year. |