Egyptian National Cement approves

Egyptian National Cement approves
05 May 2004


The general shareholders’ meeting of Egypt’s National Cement Company (NCC) approved on May 3, 2004 the company’s draft budget for the fiscal 2004/05, ending June 30, 2005, eyeing a net profit of about 50 mln Egyptian pounds ($8.1m) for the year.

NCC reported a net loss of 91.35 mln pounds ($14.8m) for 2002/03. The company targets an operating revenue of 589.93 mln pounds ($95.4m) for 2004/05, against 392.6 mln pounds ($63.5m) in 2002/03. The estimated clinker output for 2004/05 is 2.75Mt, while investments in renovation and upgrade projects during the year are expected to reach 28.5 mln pounds ($4.6m).  NCC’s projected cement exports for 2004/05 stand at some 600,000t. The company exported 531,316t of cement and 190,639t of clinker in the first nine months of 2003/04.

Published under Cement News