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Misr Cement achieves 330% profit rise

Misr Cement achieves 330% profit rise

ArabFinance: Misr Cement Company (Qena) (MCQE) reported a 330% Year on Year increase in its consolidated net profit in the first half (H1) of 2020, according to the company’s August 11th financial statements filed to the Egyptian Exchange.

Consolidated net profit stood at EGP 63,251,078 in H1 2020, compared to EGP 14,690,924 achieved in H1 2019.

Standalone net profit reached EGP 42,156,076 in H1 2020, a 420% jump from EGP  8,098,566 posted in H1 2019.

The company distributed cash dividends of EGP 0.250 per share on May 21st to the shareholders recorded on May18th.

The Egypt-based company is engaged in the manufacturing and marketing of cement and cement-related products in Egypt and abroad. In addition, the company is involved in the production and distribution of construction materials, as well as dealing in all types of construction supplies and equipment.

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