Beni Suef Cement sees 101% surge in net profit
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 correspon...
Egypt
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Egyptian cement demand falls almost 10% in April
The Egyptian cement industry's sales volumes for April, excluding exports, dropped 9.7 per cent MoM and 13.4 per cent YoY. Moreover, local sales witnessed almost the same level ...
Alexandria Portland Cement sees net loss contract in 1Q20
Egypt’s Alexandria Portland Cement has seen its consolidated net loss contract 54 per cent YoY to EGP35.82m (US$2.27m) in the first quarter of 2020, compared to a loss of EGP77....
Qalaa Holdings records revenues of EGP14.9bn in FY2019
Qalaa Holdings of Egypt has reported total revenues of EGP14.9bn (US$945m), for its consolidated financial results for the year ended 31 December 2019, up 11 per cent YoY. Qalaa...
Suez Cement announces new chairman
Egypt’s Suez Cement Group has appointed Ambassador Yasser El-Naggar as the new chairman of the group, effective from 23 April. Mr El-Naggar has succeeded Hayrullah Hakan Gurdal ...
Celebrating industry excellence
Cemtech Middle East and Africa 2020 welcomed delegates from over 35 nations to the Grand Hyatt Dubai, UAE, on 16-19 February. The conference and exhibition offered a comprehensi...
Egyptian cement prices fall 3% in March
The price of Portland cement in Egypt fell 2.5 per cent MoM to EGP780/t (US$49.4/t) in March 2020, compared to EGP800/t in February, according to the Central Administration of N...
Sinai Cement reports widening net loss in 2019
Egypt’s Sinai Cement has reported a significant widening in its net loss for 2019. The net loss expanded to EGP442.25m (US$28.07m) from an EGP306m loss in 2018. The company has ...
China: outward bound Premium
China’s Belt and Road Initiative (BRI) is now an integral part of the country’s overseas expansion policy. Since its inception in 2013, the BRI has been one of the essential veh...
Suez Cement looks to sell stake in Hilal Cement
Egypt’s Suez Cement has decided to place its 51 per cent stake in Kuwait-based Hilal Cement up for sale, according to a statement to the country’s stock exchange. Elsewhere, the...