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Misr Cement standalone profits rise 65% in Q4

Misr Cement standalone profits rise 65% in Q4
(Photo credit: Arabianeye - Reuters)
Misr Cement - Qena
MCQE
-1.55% 17.79 -0.28

Cairo – Mubasher: Misr Cement – Qena’s standalone profits for the fourth quarter of fiscal 2015 increased 64.94% to EGP 57.22 million, compared to EGP 34.69 million for Q4-15.

Standalone profits declined in fiscal 2016 by 29.9% to EGP 186.56 million from EGP 266.21 million for 2015, according to a bourse filing.

The company’s board approved a proposal to pay cash dividends of EGP 2 per share for the year.

Foreign exchange losses amounted to EGP 1.88 million.