Egypt Misr Cement’s profit inches down

The company is involved in the production and distribution of construction materials

  
Image used for illustrative purpose. Concrete Plant behind a pile of sand. The sand is used in making the concrete.

Image used for illustrative purpose. Concrete Plant behind a pile of sand. The sand is used in making the concrete.

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Egypt - Misr Cement Company’s (Qena) (MCQE) consolidated net profit inched down to EGP 33.84 million in consolidated net profit in 2020, compared to EGP 34.67 million in 2019, according to the company’s statement to the Egyptian Exchange on February 24th.

Standalone net profit recorded EGP 47.37 million in 2020, compared to EGP 35.24 million in the prior year.

The listed company reported a 21% Year on Year rise in its consolidated net profit in the first nine months of 2020, registering EGP 40.11 million.

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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