Arabian Cement’s consolidated profits decline 37% YoY in Q1 2024
Updated 5/28/2024 12:28:00 PM
Arab Finance: Arabian Cement Company’s (ARCC) consolidated net profits attributable to the parent company plunged 36.9% year on year (YoY) to EGP 152.639 million during the first quarter (Q1) of 2024, compared to EGP 241.773 million, as per the financial statement.
The firm generated net sales of EGP 1.938 billion in the three-month period ended March 31st, growing from EGP 1.71 billion in the same quarter last year.
In terms of standalone results, the firm’s net profits after tax fell to EGP 150.538 million in Q1 2024, versus EGP 243.044 million in Q1 2023.
However, standalone net sales climbed to EGP 1.909 billion from EGP 1.687 billion.
Arabian Cement is an Egypt-based company engaged in the manufacture of cement and concrete. Its products include clinker and ready-mix concrete, in addition to Al Mosalah, Al Tahrir, and El Sadd cement.
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