Cairo - Arabian Cement Co turned profitable in the first half (H1) of 2022, gaining EGP 119.49 million in net earnings, versus net losses of EGP 23.28 million in H1-21, including minority shareholders’ rights

Revenues during the six-month period ended 30 June 2022 surged to EGP 2.12 billion, compared to EGP 964.86 million in the same period in 2021, according to a bourse filing on Sunday.

As for the standalone financials, the EGX-listed firm turned to a net profit of EGP 105.95 million in the January-June period in 2022, against a net loss of EGP 21.08 million in the year-ago period.

During the second quarter (Q2) of the year, the company logged net profits of EGP 60.64 million, versus net losses of EGP 16.95 million in Q2-21.

In Q1-22, the company achieved net profits after tax of EGP 58.85 million, against net losses of EGP 6.33 million in the year-ago period.

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