Misr Cement achieves 330% profit rise

The company distributed cash dividends

  
Image used for illustrative purpose. Pouring concrete to the foundations of the building.

Image used for illustrative purpose. Pouring concrete to the foundations of the building.

Gettyimages
ArabFinance: Misr Cement Company (Qena) (MCQE) reported a 330% Year on Year increase in its consolidated net profit in the first half (H1) of 2020, according to the company’s August 11th financial statements filed to the Egyptian Exchange.

Consolidated net profit stood at EGP 63,251,078 in H1 of 2020, compared to EGP 14,690,924 achieved in H1 2019.

Standalone net profit reached EGP 42,156,076 in Q1, a 420% jump from EGP 8,098,566 posted in H1 of 2019.

The company distributed cash dividends of EGP 0.250 per share on May 21st to the shareholders recorded on May18th.

The Egypt-based company is engaged in the manufacturing and marketing of cement and cement-related products in Egypt and abroad. In addition, the company is involved in the production and distribution of construction materials, as well as dealing in all types of construction supplies and equipment.

Copyright © 2020 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Equities