Misr Cement (Qena) sees consolidated net profit surge 32% YoY

Egypt's Misr Cement (Qena) has reported a consolidated net profit of EGP39.2m (US$2.51m) during the 3Q20, up 31.8 per cent YoY from EGP29.7m. Revenues fell 18.5 per cent to EGP1.84m from EGP2.26m in the year-ago period.

In its standalone business, the company saw its net profit surge 106.7 per cent YoY to EGP45.16m from EGP21.85m in the 3Q19.

"The company stood alone from all its rivals in the Egyptian market by achieving more remarkable successes in the third quarter of 2020," said Abdel Fattah Harhour, chairman.