Misr Cement logs 211% jump in nine months profits, unveils new identity

During the third quarter of 2021, net profits stood at $3.37mln

  
Traders work at the Egyptian stock exchange in Cairo, Egypt, December 3, 2015.

Traders work at the Egyptian stock exchange in Cairo, Egypt, December 3, 2015.

REUTERS/Mohamed Abd El Ghany
Cairo – Misr Cement – Qena Group recorded an annual leap of 211% in net profits to EGP 122 million during the first nine months of 2021 from EGP 39 million in the same period last year.

Net sales amounted to EGP 1.89 billion in January-September 2021, up 3% from EGP 1.84 billion in the corresponding nine months in 2020, according to a press release.

During the third quarter (Q3) of 2021, net profits stood at EGP 53 million, while sales reached EGP 612 million.

Misr Cement – Qena has also announced its new identity as Misr Cement Group that will have its companies united under one competent management.

Managing Director of MISR Cement Group, Tarek Talaat, said: “We adjusted the group’s strategy and policies to join forces under one umbrella “Misr Cement Group.” This step contributes to our mission to be the partner of choice for our stakeholders, and to grow in Egypt and Africa.”

Source: Mubasher

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