Cement News tagged under: Misr Beni Suef Cement

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Egypt's cement sector sees sales rise 15% YoY

15 April 2021, Published under Cement News

Egypt's cement industry recorded strong sales in March with total sales reaching 4.99Mt, up 22 per cent MoM and 15 per cent YoY. The industry’s utilisation rate also surged to 74 per cent from 60 per cent in February. The average utilisation rate in 2020 was 59 per cent. Watania Cement (Beni Suef) recorded the highest sales of 990,000t with a market share of 20 per cent, according to Daily News Egypt. Therefore, volumes were up 40 per cent MoM and 141 per cent YoY. Sinai Cement reco...

Egypt sees demand rise 10% MoM

28 October 2020, Published under Cement News

Egypt saw total cement sales decline 12.5 per cent YoY to 3.8Mt, including exports, in September, according to Daily News. However, this represents a 10 per cent increase MoM and is the highest monthly cement demand since April 2020. The average industry utilisation rate stood at around 56 per cent in September. Sinai Cement was the best performer in terms of volumes, which increased three per cent YoY. Suez Cement reported sales of 617,000t, up 28 per cent MoM, while Arabian Cement sa...

Misr Beni Suef Cement records 84% rise in profit

18 August 2020, Published under Cement News

Egypt’s Misr Beni Suef Cement Co has seen its profit rise 84 per cent YoY to EGP29.5m (US$1.85m) during the second quarter of 2020, against EGP16m in the 2Q19. The company also reported a 94 per cent increase in profit to EGP88.77m in the 1H20, compared to EGP45.66m in the corresponding period of 2019. However, revenue declined 52 per cent YoY to EGP216m. Cement sales, including exports, also fell 53 per cent YoY, which was attributed to the continued oversupply alongside the effects o...

Egypt sees cement sales surge 42% in June

21 July 2020, Published under Cement News

Egypt's cement industry has reported a sudden surge in total sales, recording 3.64Mt during June 2020, including minimal exports, up 42 per cent MoM and one per cent YoY. June's improvement follows on from one of the lowest monthly sales run rates on record during May, which were impacted by the coronavirus (COVID-19) pandemic and the partial lockdowns. The MoM turnaround was recorded across companies including Suez Cement, which reported a sales growth of 55 per cent MoM and 24 per cent...

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.