Misr Cement Qena registers 18.5% YoY drop in H1 consolidated profit: Egypt

Misr Cement – Qena (MCQE) has reported an 18.47% year-on-year (YoY) increase in consolidated profit attributable to controlling shareholders during the first half (H1) of 2023, recording EGP 43.747 million, compared to EGP 53.656 million, according to the financial statements filed to the Egyptian Exchange (EGX) on August 15th.

Sales surged to EGP 1.90 billion in H1 2023 from EGP 1.295 billion in H1 2022.

The company’s standalone net profit after tax fell to EGP 39.60 million in the six-month period ended June 30th from EGP 39.726 million in the same period in 2022.

Misr Cement – 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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