Arabian Cement record profit fall of 88% in 1H19

Arabian Cement Co (ACC) of Egypt announced a fall in profits of 88.1 per cent to EGP25.3m (US$1.52m) for 1H19 compared to EGP212.77m in 1H18.

Profits in 2Q19 dipped to EGP19.4m from EGP50.7m in 2Q18, but this was an imporvement on 1Q19 profts of EGP5.97m, down from EGP162m in 1Q18.

Cement sales in 1H19 amounted to EGP1.6bn compared to EGP1.64bn in 1H18.

ACC (Cementos La Union group) has a clinker capacity of 4.2Mta and can produce up to 5Mta of cement.