Misr Cement – Qena posted consolidated net profits after tax worth EGP 131.61 million in 2022, down from EGP 173.89 million in 2021, including minority interest.

The sales reached EGP 2.81 billion in the 12-month period that ended on 31 December 2022, up year-on-year (YoY) from EGP 2.52 billion, according to the income statements.

Additionally, the total assets hiked to EGP 4.43 billion in 2022 from EGP 3.73 billion a year earlier.

Standalone Financial Results

The EGX-listed firm registered standalone net profits after tax worth EGP 76.27 million during the January-December 2022 period, an annual drop from EGP 93.81 million.

Non-consolidated sales increased to EGP 1.26 billion in 2022 from EGP 1.24 billion in 2022, whereas the earnings per share (EPS) retreated to EGP 0.92 from EGP 1.12.

The total standalone assets reached EGP 2.38 billion last year, higher than EGP 1.98 billion as of 31 December 2021.

Dividends

The board of Misr Cement approved a cash dividend distribution of EGP 0.50 per share for 2022, which will be presented to the ordinary general meeting (OGM).

In the first nine months (9M) of 2022, the company witnessed a 20% YoY decline in consolidated net profit after tax to EGP 96.89 million, versus EGP 122.06 million, including non-controlling interest.

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