The net profit of Egyptian cement producer Misr Cement Qena rose 73.9 per cent year-on-year to 27.7 mln Egyptian pounds ($4.8m) in the first quarter of 2005.  The rise in earnings came after a 22.1 per cent growth in net sales to 81.17 mln pounds ($14m) and a 2.2 per cent increase in the cost of sales to 40.32 mln pounds ($7.0m). As a result, the company’s gross profit grew to 40.85 mln pounds ($7.05m) from 27.02 mln pounds ($4.7m).  Misr Cement Qena is listed on the Cairo and Alexandria Stock Exchanges (CASE). Published under Cement News