Arab Finance: Arabian Cement Company (ARCC) turned to profitability during the first nine months of 2022, according to financial statements filed to the Egyptian Exchange (EGX) on Thursday.
The company recorded a standalone net profit after tax of EGP 244.741 million in nine months to September 30th, compared to a net loss of EGP 24.533 million the year before.
Moreover, the company’s board of directors recommended the distribution of EGP 249.968 million for the period that ended on September 30th.
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.