Misr Cement Co. (Qena) consolidated net profits surged to EGP 45.1 mln in Q3 of 2020

SectorFinancial Markets

Misr Cement Co. (Qena), listed on the Egyptian Stock Exchange EGX as MCQE, witnessed an increase in its net profits in the third quarter of 2020 to reach EGP 39.20 million, up from EGP 29.70 million in the same quarter of 2019; with an increase of 31.79 percent, despite the decline in net revenues in the third quarter of 2020. The company recorded about EGP 1.8 million, down from EGP 2.2 million for the same quarter in 2019, according to a statement released on Monday. The company’s financial results for the third quarter of 2020 showed that its net sales revenues decreased to EGP 826 million, down from EGP 979 million in the previous year. Moreover, the cost of sales per ton decreased by 15 percent to reach ...read more...