Misr Cement Qena’s consolidated profits slip 2% YoY in 2023
Updated 3/4/2024 10:57:00 AM
Arab Finance: Misr Cement – Qena (MCQE) posted a 2.3% year-on-year (YoY) decrease in consolidated profit attributable to controlling shareholders in 2023, recording EGP 94.782 million, compared to EGP 97.044 million, as per a filing.
Net sales came in at EGP 4.029 billion last year, up from EGP 2.816 billion in the previous year.
The company’s standalone net profits after tax fell to EGP 75.809 million in 2023 from EGP 76.272 million in 2022.
Meanwhile, net standalone sales rose to EGP 1.661 billion from EGP 1.264 billion.
Misr Cement – Qena is engaged in the manufacturing and marketing of cement and cement-related products in Egypt and abroad.
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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