Egypt: Arabian Cement registers hike in Q1-23 net profits

PHOTO

Cairo – Arabian Cement Company posted consolidated net profits attributable to the owners amounting to EGP 241.77 million in the first quarter (Q1) of 2023, an annual leap from EGP 58.85 million.

The net sales climbed to EGP 1.71 billion in the January-March 2023 period from EGP 1.06 billion in Q1-22, according to income statements.

Earnings per share (EPS) stood at EGP 0.63 in Q1-23, higher than EGP 0.15 as of 31 March 2021.

Standalone Financial Results

The company’s standalone net profit after tax reached EGP 243.04 million during the first three months (3M) of 2023, up from EGP 53.28 million in the year-ago period.

Non-consolidated sales jumped to EGP 1.68 billion in Q1-23 from EGP 1.02 billion in Q1-22, while the EPS increased to EGP 0.64 from EGP 0.14.

Last year, the EGX-listed firm generated consolidated net profits after tax attributable to the shareholders valued at EGP 358.98 million, a hike from EGP 34.18 million in 2021.