Egypt’s ASEC Cement Co, posted a net profit of E£3.55m (US$574,000) for the first quarter of 2004.  The company’s operating revenue stood at E£160.51m, while the cost of goods sold reached E£109.37m, which led to a gross profit of E£51.13m (US$8.3m mln/6.7 mln euro). Total expenses amounted to E£53.02m (US$8.6m). ASEC Cement Co is traded on the Cairo and Alexandria Stock Exchanges. Published under Cement News