Misr Cement – Qena posts 41.2% YoY consolidated profit decline in 9 months
Updated 11/14/2022 1:49:00 PM
Arab Finance: Misr Cement – Qena (MCQE) posted a 41.2% year-on-year (YoY) decline in consolidated profit attributable to the parent company during the first nine months of 2022, according to the financial statements filed to the Egyptian Exchange (EGX) on November 14th.
Consolidated profit attributable to the parent company amounted to EGP 63.09 million in the nine-month period ended September 30th, compared to EGP 107.40 million in the year-ago period.
Net sales grew to EGP 1.96 billion in the first nine months of 2022 from EGP 1.89 billion in the corresponding period of 2021.
Meanwhile, the company’s standalone net profit after tax reached EGP 52.13 million in the nine-month period ended September 30th, down from EGP 80.77 million in the same period last year.
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.
