Arabian Cement swings to profitability in 2021
Updated 2/28/2022 10:24:00 AM
ArabFinance: Arabian Cement Company (ARCC) turned to profitability in 2021, according to consolidated financial statements filed to the Egyptian Exchange (EGX) on Monday.
The company recorded consolidated profits attributable to the parent company of EGP 34.181 million in the full year ended December 31st 2021, compared to losses of EGP 122.788 million the year before.
Likewise, the Arabian Cement’s standalone results showed a turn towards profitability, as net profits after taxes amounted to EGP 27.123 million in 2021, versus a net loss of EGP 116.213 million in 2020.
Moreover, the company’s board of directors approved the distribution of cash dividends equal to distributable profits for the full year ended December 31st 2021.
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.
