Arab Finance: Arabian Cement Company (ARCC) turned to profitability in the first half (H1) of 2022, recording a consolidated profit attributable to the parent company of EGP 119.49 million, versus a net loss of EGP 23.28 million in H1 2021, according to the company’s financial statements filed to the Egyptian Exchange (EGX) on August 14th.

The company’s consolidated sales revenue surged to EGP 2.129 billion in H1 2022 from EGP 964.865 million in the same period a year earlier.

Furthermore, Arabian Cement reported a standalone net profit after tax of EGP 105.95 million in the six-month period ended June 30^th, compared to a net loss of EGP 21.08 million the year-ago period.

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.