Arabian Cement sees 88% profit fall in 2019

Arabian Cement Co posted a 87.5 per cent drop in net profit to EGP28.93m (US$1.85m) in 2019 when compared with the previous year, according to the company’s consolidated financial statement. In 2018 the company reported a consolidated net profit of EGP231.64m.

The Egypt-based cement producer’s sales declined to EGP3.1bn, compared to EGP3.27bn in 2018.

As a stand-alone business net profits fell to EGP30.09m in 2019 from EGP233.64m in the previous year.