Misr Cement – Qena registers 12.6% YoY consolidated profit decline in H1
Updated 8/15/2022 11:14:00 AM
ArabFinance: Misr Cement – Qena (MCQE) posted a 12.63% year-on-year (YoY) decline in consolidated profit attributable to the parent company during the first half (H1) of 2022, recording EGP 53.657 million, according to financial statements filed to the Egyptian Exchange (EGX) on Monday.
Net sales grew to EGP 1.296 billion in H1 2022 from EGP 1.285 billion in H1 2021.
The company’s standalone net profit after tax reached EGP 39.727 million in the six-month period ended June 30th, down from EGP 46.785 the year before.
Misr Cement – Qena is engaged in the manufacturing and marketing of cement-related products in Egypt and abroad. The company is involved in the production and distribution of construction materials, as well as dealing with all types of construction supplies and equipment.
