Misr Qena Cement Co records 24% profit rise in 1H22

The consolidated financial statements of Misr Qena Cement Co revealed an increase in the company's profits by 24 per cent during the first half of this year.

The company achieved a net profit of EGP85.69m (US$4.5m) during the period from January to the end of June 2022, compared to EGP69.1m in the same period last year. Misr Qena Cement recorded sales during the 1H22 of EGP1.29bn, compared to EGP1.28bn in the same period last year.

The company recorded a net profit of EGP80.85m from the beginning of January until the end of March 2022, compared to EGP30.92m in the 1Q21. The parent company’s share of profits during the three months amounted to about EGP59.63m, versus EGP28.94m in the same period in 2021. Misr Qena Cement's net sales fell during the three months to EGP668.75m, compared to EGP712.73m in the same period a year earlier.