Misr Cement logs $674,4600 consolidated profit in Q1-24

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Misr Cement – Qena posted a consolidated net profit after taxes and before non-controlling interest of EGP 32.45 million during the first quarter (Q1) of 2024, down from EGP 85.47 million in the equivalent quarter in 2023.

Net sales grew to EGP 1.25 billion in Q1-24 from EGP 906.42 million in Q1-23, according to the interim financial results.

Standalone Results

The company’s standalone net profit after tax declined to EGP 48.63 million in the three-month period that ended on 31 March 2024 from EGP 56.68 million in the same period the year before.

Net sales rose to EGP 573.39 million in the January-March period from EGP 393.07 million in the comparative period of 2023.

The earnings per share (EPS) amounted to EGP 0.44 in Q1-24 from EGP 0.52 in Q1-23.

In 2023, Misr Cement – Qena’s consolidated net profit went down by 12% YoY to EGP 115 million from EGP 132 million a year earlier.