Cairo – Mubasher: Misr Cement – Qena posted lower consolidated net profits at EGP 41.35 million in the first nine months (9M) of 2023, versus EGP 119.52 million in 9M-22.
Revenues amounted to EGP 2.83 billion in 9M-23, an annual hike of 44% from EGP 1.96 billion, according to the consolidated financial statements.
Total assets enlarged to EGP 4.91 billion as of 30 September 2023 from EGP 4.43 billion as of 31 December 2022.
Standalone Business
The listed firm recorded standalone net profits after tax valued at EGP 36.50 million in 9M-23, compared to EGP 52.13 million in the year-ago period.
Misr Cement generated net sales worth EGP 1.15 billion as of 30 September 2023, marking an annual surge from EGP 894.22 million.
Earnings per share (EPS) hit EGP 0.46 in January-September 2023, down year-on-year (YoY) from EGP 0.62.
Financials for Q3-23
During the third quarter (Q3) of 2023, the listed company shifted to net losses valued at EGP 45.01 million, versus net profits of EGP 18.05 million in Q3-22, including non-controlling interest.
The consolidated net sales widened to EGP 930.77 million in Q3-23 from EGP 672.61 million a year earlier.
Non-consolidated net losses after tax reached EGP 3.09 million in July-September 2023, against profits standing at EGP 12.45 million in Q3-22. Meanwhile, the revenues hiked to EGP 414.63 million from EGP 320.52 million.
As of 30 June 2023, the consolidated net profits after tax retreated to EGP 63.68 million from EGP 85.69 million in H1-22, including minority shareholders' rights.
