Cairo – Mubasher: Misr Cement – Qena has signed a credit facility agreement worth EGP 210 million with three banks, said the company in a bourse filing on Sunday.

The three banks are the National Bank of Egypt, Bank du Caire and the CIB, the filing added, revealing that this amount will be used to finance part of the company’s operating capital.  

Over Q4-16, the company earned EGP 57.56 million, higher 65.97% year-on-year from EGP 34.68 million, the unconsolidated results revealed on Sunday.

Meanwhile, unconsolidated profits for 2016 declined 29.8% year-over-year to EGP 186.9 million from EGP 266.2 million.

The company is capitalized at EGP 298.78 million, distributed across 29.9 million shares at EGP 10 par value each.