Egyptian Sinai Cement net profit rise

Egyptian cement producer Sinai Cement reported an 81.6 per cent year-on-year surge in net profit to 35.56 mln Egyptian pounds (US$5.8m) for 2003.  The increase in earnings resulted from a 12.5 per cent growth in net sales to 243.48 mln pounds ($39.4m), coupled with a 6.7 per cent fall in production costs.  Sinai Cement was established by private investors in 1998 and was listed on the Cairo and Alexandria Stock Exchanges in 2000.