Misr Beni Suef Cement’s net profit falls 44% YoY in H1
Updated 8/10/2022 2:16:00 PM
Arab Finance: Misr Beni Suef Cement Company (MBSC) posted a 44.02% year-on-year (YoY) decline in net profit after tax for the first half (H1) of 2022, according to the financial statement filed to the Egyptian Exchange (EGX) on August 10th.
Net profit after tax stood at EGP 44.63 million in the six-month period ended June 30th, compared to EGP 79.74 million in the same period of 2021.
Sales amounted to EGP 725.93 million in H1 2022, growing from EGP 440.59 million in H1 2021.
On the other hand, the company turned to losses in the second quarter (Q2) of 2022, incurring a net loss after tax of EGP 3.02 million, versus a profit of EGP 42.32 million in Q2 2021.
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.
