The ordinary general meeting of Misr Cement Qena (MCQ) approved on Saturday, September 20, the company’s financial statements, as well as the board and auditors’ reports, for the fiscal period that ended on June 30, 2014.
They also gave a nod to the proposed dividend payout at EGP 3 per share.
The company’s financial results for H1-14 had shown a rise in net profit by 14% to EGP 165.3 million, compared with EGP 144.9 million in the same period a year earlier.
The company’s sales totaled EGP 559 million, compared with EGP 445.8 million in H1-13. Q1 financial results had mirrored a drop by 10% in net profit to EGP 72.7 million, compared with EGP 80.4 million in the same period a year earlier. FY13 profit had netted EGP 272 million, compared with EGP 321 million net profit a year earlier.