Beni Suef Cement reports modest revenue increase in 2Q19
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. H...
Egypt
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Sinai Cement records 20% loss increase in 1H19
Egypt’s Sinai Cement has seen its net loss widen 20.2 per cent YoY to EGP187.23m (US$11.3m) during the first six months of 2019, compared with EGP155.74m in the 1H18. The cost...
Tourah Cement rejects kiln auction result
Tourah Cement rejected the auction result to sell off the old kilns of its Tourah plant as a result of the low price received. They are to be reauctioned later. The proceeds ...
Misr Cement (Qena) records 85% decrease in profit
Egypt’s Misr Cement (Qena) has reported an 85.2 per cent YoY fall in profit to EGP14.69m (US$886,660) for the first six months of 2019, compared to EGP99.37m in the year-ago pe...
Arabian Cement record profit fall of 88% in 1H19
Arabian Cement Co (ACC) of Egypt announced a fall in profits of 88.1 per cent to EGP25.3m (US$1.52m) for 1H19 compared to EGP212.77m in 1H18. Profits in 2Q19 dipped to EGP19...
Egyptian cement producers seek market solutions
This week HeidelbergCement-owned Suez Cement and Tourah Cement reported their 1H19 results with further declines in sales, leading to wider losses for both Egyptian cement ...
Suez Cement records EGP293m net loss in 1H19
Egypt’s Suez Cement recorded a net loss of EGP293.4m (US$17.69m) for the first half of 2019, down from an EGP238.2m profit in the year-ago period. Revenues declined 16.7 per ce...
Tourah Cement sees net loss widen 205%
Egypt’s Tourah Cement has seen its net losses widen 204.7 per cent YoY for the first six months of 2019, surging to EGP461.25m (US$27.78m) from EGP2.24m in the 1H18. On a quar...
Arabian Cement Co signs petcoke supply deal
Egypt’s Arabian Cement Co has signed an agreement with Egyptian Refining Co, a subsidiary of Qalaa Holdings, for the supply of 272,155t of petcoke. "This agreement aligns wit...
Rimco Investments increases share ownership in Suez Cement
Rimco Investments has purchased around 474,000 shares in Suez Cement (HeidelbergCement Group) raising its shareholding from 8.85 to 9.11 per cent. The total value of the deal ...