Arabian Cement turns to consolidated profitability in 9 months

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Arabian Cement Company’s (ARCC) consolidated financials showed a shift towards profitability during the first nine months of 2022, according to financial statements filed to the Egyptian Exchange (EGX) on Tuesday.

The company posted a consolidated profit attributable to the parent company of EGP 262.245 million in January-September, compared to a net loss of EGP 23.221 million the year before.

Consolidated sales revenue surged to EGP 3.433 billion in nine months to September 30th from EGP 1.643 billion a year earlier.

The company recorded a standalone net profit after tax of EGP 244.741 million in the nine months that ended on September 30th, compared to a net loss of EGP 24.533 million the year before.

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.