Cement News tagged under: Misr Beni Suef Cement

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Beni Suef Cement sees 101% surge in net profit

18 May 2020, Published under Cement News

Egypt’s Misr Beni Suef Cement has reported a 101 per cent YoY increase in net profit to EGP59.37m (US$3.77m) in the first quarter of 2020, compared to EGP29.53m in the corresponding period of last year. However, sales declined 7.1 per cent YoY to EGP404.96m from EGP435.97m.

Beni Suef Cement records 6% dip in revenue

18 November 2019, Published under Cement News

Egypt’s Misr Beni Suef Cement has noted a 72 per cent YoY profit decline to EGP67.11m (US$4.16m) in the first nine months of 2019, against EGP237.8m in the 9M18. Revenues were also down 6.2 per cent YoY to EGP1.36bn from EGP1.45bn in the January-September 2018 period.

Beni Suef Cement reports modest revenue increase in 2Q19

04 September 2019, Published under Cement News

Egypt's Misr Beni Suef Cement saw a one per cent YoY increase in revenue to EGP454m (US$27.4m) in the 2Q19, supported by increased sales despite the Ramadan and Eid holidays. However, net profit was down 82 per cent YoY to EGP16m. The company may consider new investment opportunities worth up to EGP1bn during the coming period, as the company looks to benefit from a cash balance of over EGP1bn, according to Daily News Egypt. Meanwhile, it has reportedly reduced its production rate in acco...

Misr Beni Suef and Alexandria Cement report improved results in 2018

01 March 2019, Published under Cement News

Egypt-based cement companies Misr Beni Suef Cement and Alexandria Cement have posted improved results in 2018. Misr Beni Suef Cement posted net profits of EGP241.491m (US$13.8m) in 2018, more than twice its net profits of EGP110.616m announced in 2017. Alexandria Cement reported a reduction in its consolidated net loss in 2018, which fell to EGP394.166m from EGP513.934m in 2017. Stand-alone losses also decreased to EGP251.976m in 2018 to EGP401.794m in the previous year.

Mixed results for Egyptian producers

14 May 2018, Published under Cement News

Egypt’s Alexandria Cement has announced a further consolidated net loss in the first quarter of 2018, which widened 17.1 per cent YoY to EGP34.78m. Furthermore, the company recorded a standalone net loss of EGP71.28m against a net profit of EGP12.63m seen in the year-ago period. Elsewhere, Misr Beni Suef Cement posted a 280.9 per cent YoY rise in net profit to EGP125.9m for 1Q18. Sales saw a significant increase of 77.3 per cent to EGP619.1m, compared to EGP349.1m of the previous year.

Misr Beni Suef sees 41% drop in 1H net profit

11 August 2017, Published under Cement News

Egyptian cement producer, Misr Beni Suef Cement, announced in a statement sent to the Egyptian Stock Exchange, the audited financial results for the first six months of 2017, posting a 41 per cent decline in net profits. The company reported net profits of EGP55,722,455 (US$3,132,487), versus net profits of EGP94,574,290 in the same period a year ago.

Egypt: Misr Beni Suef Cement postpones coal mill

26 January 2017, Published under Cement News

Misr Beni Suef Cement Company has postponed the installation of a coal mill at its Beni Suef plant to the 3Q17. The coal mill is expected to cost EGP18m (US$0.96m). Managing Director, Farouk Mostafa, said the company had intended to install the mill in December 2016 but was forced to postpone due to the shortage in US dollars needed to import the mill and its spare parts, as well as the fall-out from the decision to float the Egyptian pound, which caused prices to hike. He explained that ...

Beni Suef begins construction of coal mill, Egypt

16 February 2015, Published under Cement News

Beni Suef Cement has began the construction of the coal mill worth EGP200m (US$26.3m), to be used as an alternative to natural gas and heavy fuel oil at its cement plant in Egypt. Farouk Mustafa, managing director of the company, said he expects the project to be completed in October, adding that the project is being partly funded through a EGP100m loan with Egyptian Gulf Bank. Mustafa said that using mazut as a temporary measure to prevent natural gas shortages halting production. Howe...

Egypt: Supreme Administrative Court suspends privatisation appeal

20 January 2015, Published under Cement News

The Supreme Administrative Court has decided to halt proceedings looking into the appeal against the privatisation of Egypt-based Beni Suef Cement Company. The court has ordered that workers are reinstated to the company but has temporarily suspended looking into the privatisation appeal.  The suspension is pending another court decision in a case questioning the constitutionality of a law issued last year, which bans third parties from challenging sales or investment contracts signed betw...

Egypt: Beni Suef signs bank loan for coal mill

19 December 2014, Published under Cement News

Beni Suef Cement has signed a loan contract with a bank for a coal mill, according to a bourse statement. The Egyptian cement producer said the loan consisted of EGP100m (US$14m) for the planned mill, but did not specify the bank. Over the first nine months of the year, parent company Titan Cement said the severe fuel shortage has had a very damaging effect on production and led to clinker imports to supply some customer needs.