Egypt: Misr Cement reports sharply higher net profit in Q3 2021
Misr Cement Achieved Net Profit Up 213%, To EGP 122 Million ($ 8 Million) In Q3 2021 From EGP 39 Million ($ 2.4 Million) In Quarter 3 2020, According To Financial Results quarterly published by the cement manufacturer.
Quarter over quarter, the group's net profit increased 39% to $ 3.3 million from the $ 2.4 million recorded between April and June. This is in line with sales up 7% to $ 39 million from $ 36 million in the second quarter of 2021.
During the period under review, the group's net sales reached 120 million USD compared to 117 million USD between July and September 2020, representing an annual growth of 3%.
In addition, exports grew 200% year-on-year, reaching 208,000 tonnes in the first nine months of the year, compared to 69,000 tonnes in the same period last year.
Founded in 1997, the Misr Cement group specializes in the production and marketing of cements and construction materials.