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. Qal...
Egypt
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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 comprehens...
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 ...
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 ha...
China: outward bound
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 ve...
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, ...
Tourah Portland Cement posts net loss in 2019
Egypt’s Tourah Portland Cement has posted a net loss of EGP617.25m (US$39.3m) in 2019, compared with an EGP36.09m profit in the previous year. Total sales also declined 51.7 ...
Suez Cement sees net loss narrow in 2019
Egypt’s Suez Cement has seen its consolidated net loss narrow to EGP1.18bn (US$75.23m) in 2019 from EGP1.32bn in the previous year. However, sales declined 13.1 per cent YoY to...
Misr Cement-Qena reports 84% profit drop in 2019
Egypt-based Misr Cement (Qena) an 84 per cent YoY decline in consolidated net profits to EGP16.45m (US$1.05m) in 2019, compared with EGP104.39m in 2018, according to a statemen...