Misr Cement – Qena’s (MCQE) consolidated net profits attributable to the parent company dropped 52% year-on-year (YoY) in the first quarter (Q1) of 2024, recording EGP 31.501 million, compared to EGP 65.673 million, the firm announced.

Net sales climbed to EGP 1.256 billion in Q1 2024 from EGP 906.423 million in Q1 2023.

On the other hand, the company’s standalone net profits after tax declined to EGP 48.638 million in the three-month period ended March 31st from EGP 56.684 million in the same period a year ago.

However, standalone revenues went up to EGP 573.395 million from EGP 393.073 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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