Suez Cement reports net profits of EGP250m in 1H18

Suez Cement reported EGP250.59m (US$14m) in net profits for the six-month period ended June, against a loss of EGP40.61m in the year-ago period, according to a filing to the Egyptian Exchange (EGX).

Sales amounted to EGP 3.96bn at the end of June, versus EGP 3.11bn in 1H17. Profits climbed to around EGP 156.62m in 1H18, up from EGP20.81m in the same period a year earlier.

Suez Cement previously reported an EGP128.15m in profits for the three-month period ended March, versus EGP41.53m in the prior-year period.