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National Cement OGM approves draft budget for FY17/18

National Cement OGM approves draft budget for FY17/18
(Photo credit: Arabianeye - Reuters)
National Cement
NCEM
0.00% 15.19 0.00

Cairo – Mubasher: The ordinary general meeting (OGM) of National Cement Company has adopted the budget draft for fiscal year 2017-2018.

The company plans to achieve a net profit of EGP 17.7 million in FY17/18, 88.2% down from an estimated net profit worth EGP 150 million for FY16/17.

Investment budget for FY17/18 was set at EGP 950 million, compared to planned investments worth EGP 620 million for the current year, according to a bourse statement released on Tuesday.