Misr Beni Suef Cement’s profits drop 32.3% YoY in Q1

Updated 6/5/2024 9:55:00 AM
Misr Beni Suef Cement’s profits drop 32.3% YoY in Q1

Arab Finance: Misr Beni Suef Cement Company (MBSC) has reported a 32.33% year-on-year (YoY) profit decline during the first quarter (Q1) of 2024, recording a net profit after tax of EGP 41.522 million, compared to EGP 61.360 million in Q1 2023, according to financial statements filed to the Egyptian Exchange (EGX) on June 5th.

Sales rose to EGP 666.592 million in Q1 2024 from EGP 276.322 million in Q1 2023.

Established in 1997, MBSC operates within the materials sector focusing on construction materials.

MBSC is located in the center of Egypt, 190 km south of Cairo. It started production in 2003 with a plant of one cement production line. In 2006, the company built one new cement production line.

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