Misr Cement-Qena reports 84% profit drop in 2019

Egypt-based Misr Cement (Qena) an 84 per cent YoY decline in consolidated net profits to EGP16.45m (US$1.05m) in 2019, compared with EGP104.39m in 2018, according to a statement to the Egyptian Exchange. Sales fell to EGP3.1226bn in 2019, down from EGP3.1229bn the previous year.

Stand-alone net profits more than halved from EGP76.54m in 2018 to EGP35.24m in 2019.