Egypt’s Misr Cement Qena said on Sunday its nine-month net profit fell 16 per cent from a year earlier.
Net profit fell to EGP263.7m (US$44.2m) from 313.9m pounds in the first nine months of 2010, it said in a statement released by the stock exchange.
The firm also said it had shut its factories indefinitely because of a strike by employees demanding higher wages.
Ahmed Imam, a company official, told Reuters the firm operated one factory with production capacity of 5400tpd of cement.
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Net profit fell to EGP263.7m (US$44.2m) from 313.9m pounds in the first nine months of 2010, it said in a statement released by the stock exchange.
The firm also said it had shut its factories indefinitely because of a strike by employees demanding higher wages.
Ahmed Imam, a company official, told Reuters the firm operated one factory with production capacity of 5400tpd of cement.
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