Misr Beni Suef Cement 2005 profit jumps, Egypt

Misr Beni Suef Cement 2005 profit jumps, Egypt
29 March 2006


The net profit of Egyptian Misr Beni Suef Cement (MBSC) jumped to E£132.8m (US$23.2m) in 2005 from E£51.5m (US$9m) in 2004, the company said in a statement to Cairo and Alexandria Stock Exchanges (CASE). MBSC’s net profit soared 290 per cent YoY to E£101m (US$17.6m) in the first nine months of 2005, the Egyptian News Digest said.  The upsurge in earnings resulted mainly from the 40 per cent increase in net sales to E£284.5m (US$49.6m). The cost of sales rose 31.6 per cent to E£138.33m (US$24.1m), which led to a gross profit of E£146.16m (US$25.5m), up from E£97.98m (US$17.1m).  Published under Cement News