ArabFinance: Misr Cement Qena (MCQE) reported a 168% Year on Year (YoY) hike in its profits during the first nine months of 2021, according to the companys statement to the Egyptian Exchange (EGX).

The companys consolidated net profit reached EGP 107.4 million during the nine-month period ended September 2021, compared to EGP 40.11 million in the same period of 2020.

Standalone net profit stood at EGP 80.77 million by the end of September 2021, when compared to EGP 45.15 million in the same period a year ago.

During the first half of 2021, the listed company reported a 9.2% YoY increase in consolidated net profit, recording EGP 69 million.

Misr Cement Qena is engaged in the manufacturing and marketing of cement and cement-related products in Egypt and abroad.

The company is involved in the production and distribution of construction materials, as well as dealing in all types of construction supplies and equipment.

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