Suez Cement reports 54% decline in 2011 net profit

Suez Cement of Egypt posted a 54 per cent decline in 2011 due to political unrest and uncertainty. 

Net income fell to EGP568.6m (US$94m) from EGP1.24bn in 2010, the company said.

With visibility in the Egyptian market still fairly poor, the company said in a statement to the Egyptian bourse: “The outlook is still very uncertain in the current political context and before a stable government can be established.”