Beni Suef Cement records 6% dip in revenue
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 wer...
Egypt
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Sinai Cement sees net loss widen 30% YoY
Egypt’s Sinai Cement has seen its net loss widen 30 per cent YoY to EGP331.22m (US$20.53m) during the first nine months of 2019, compared to EGP293.14m in the 9M18. The cost of...
Misr Cement (Qena) records 67% net profit decline
Egypt’s Misr Cement (Qena) has recorded a 67 per cent YoY net profit fall to EGP29.7m (US$1.84m) during the first nine months of 2019, compared to EGP89.42m in the year-ago per...
Alexandria Portland Cement sees net losses narrow in 9M19
Egypt’s Alexandria Portland Cement has seen its consolidated net losses narrow by 61 per cent YoY to EGP96.58m (US$5.98m) during the first nine months of 2019, compared with lo...
President al-Sisi suggests state's military cement company should be privatised
Egyptian President Abdel Fattah al-Sisi has announced companies owned by Egypt’s military must be allowed to sell shares on the stock exchange. Last year, Egypt's government h...
Egyptian market sees higher utilisation rates in 3Q19
Egyptian cement has seen a recovery in its 3Q19 sales. Total dispatch volumes in 3Q19 for 20 cement companies researched by Naeem Holdings were up 6.3 per cent QoQ, while utili...
Reliance Logistics acquires 92% of Sama Cement's share capital
Reliance Logistics Co has acquired 3.68m stocks of Egypt’s Sama Cement, representing 92 per cent of the company’s share capital. Sama Cement owns 6.8 per cent of Sinai cement...
Gas prices lowered in Egypt for cement sector
Egypt has reduced the domestic price of gas for the cement, metals and ceramic industries, said Prime Minister, Mostafa Madbouli. Gas prices will continue to be reviews, but...
Turbulent times for Africa?
For the cement sector, turmoil has probably come to a head in many parts of Africa. Cement demand has slowed or fallen back into the red in many African countries, while overca...
Alexandria Portland Cement sells plot of land
Egypt’s Alexandria Portland Cement has sold an unexploited plot of land in Ad Dakhilah, according to a statement to the stock exchange. Situated on 15,852m 2 , the plot was sol...