Misr Cement - Qena posts profit in Q1

Sales fell

Cairo – Mubasher: Misr Cement Co. (Qena) logged EGP 30.92 million in net profits during the first quarter (Q1) of 2021, down by 33.6% year-on-year (YoY) from EGP 46.59 million, including minority shareholders' rights.

The cement producer’s sales fell to EGP 712.74 million in the January-March period, compared to EGP 815.68 million in the same period in 2020, according to a bourse disclosure on Monday.

In addition, the standalone net profits retreated to EGP 27.55 million in Q1-21 from EGP 33.33 million in Q1-20.

During 2020, the company reported EGP 33.85 million in net profits attributable to controlling shareholders, compared to EGP 34.67 million in 2019.

Source: Mubasher

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