Egyptian Misr Cement Qena posts profits

The net profit of Egyptian cement producer Misr Cement Qena soared 150 per cent year-on-year in the first nine months of 2004 to Egyptian Pounds 53.48m (US$8.6m).

The jump in bottom-line profit followed a 35.4 per cent increase in operating revenue to 232.68m pounds (US$37.5m). The cost of goods sold rose 21.6 per cent to 140.59m pounds (US$22.7m), and gross profit surged to 92.08m pounds (US$14.9m) from 56.32m pounds (US$9.1m).