Egypt: Arabian Cement’s consolidated net profit records over $22.5mln in 2023

The consolidated net profits after income tax of Arabian Cement Company surged to EGP 697.49 million in 2023 from EGP 358.98 million a year earlier.

Net sales jumped to EGP 6.04 billion last year from EGP 4.67 billion in 2022, according to the annual financial results.

The earnings per share (EPS) reached EGP 1.81 in the 12-month period that ended on 31 December 2023, up from EGP 0.93 the year before.

Standalone Results

The company’s standalone net profit after tax nearly doubled to EGP 687.98 million last year from EGP 342.50 million in 2022.

Standalone net sales rose to EGP 5.93 billion in 2023 from EGP 4.54 billion the year before.

Cash Dividends

The company’s board of directors approved the distribution of cash dividends for 2023 at a value of EGP 677.40 million.

It is worth noting that Arabian Cement posted a consolidated net profit of EGP 500.24 million in the first nine months (9M) of 2023, up from EGP 262.26 million in 9M-22.

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