Cairo – Mubasher: Suez Cement on Sunday posted it has turned to profitability in the first half of 2018, as compared with the corresponding period of 2017.
The Egyptian cement producer logged EGP 250.59 million in net profits for the six-month period ended June, against a loss of EGP 40.61 million in the year-ago period, according to a filing to the Egyptian Exchange (EGX).
Sales amounted to EGP 3.96 billion at the end of June, versus EGP 3.11 billion in H1-17, the EGX-listed firm said.
As for the standalone business, profits climbed to around EGP 156.62 million in H1-18, up from EGP 20.81 million in the same period a year earlier.
Suez Cement previously reported an EGP 128.15 million in profits for the three-month period ended March, versus EGP 41.53 million in the prior-year period.