The ordinary general meeting of Arabian Cement Co. endorsed financial results for the first nine months of FY14.
Shareholders gave a nod to the proposed dividend payout at EGP 100.4 million, or EGP 0.26 per share.
The company’s consolidated financial results for the nine-month period had shown that net profit fell 35% to EGP 201.8 million, compared with EGP 309.7 million in the year-ago period.
Standalone financial results for the same period mirrored EGP 200.4 million net profit, compared with EGP 309.4 million net profit in the first nine months of FY13.
The company’s consolidated financial statements for H1-14 had indicated EGP 107.9 million net profit. Meanwhile, standalone financial results showed EGP 106.7 million net profit. Q1-14 consolidated financial results showed EGP 117 million. FY13 financial results had reflected EGP 419.3 million.