Cairo – Mubasher: Arabian Cement on Monday reported a 561% year-on-year hike in third-quarter profits due to higher sales.

Net profits amounted to EGP 95.9 million in the three-month period ended September 2017, versus EGP 14.5 million in the prior-year period, the firm said in a filing to the Egyptian Exchange (EGX).

Sales rose to EGP 674.5 million in Q3-17 from EGP 531.4 million in Q3-16.

In the first nine months of 2017, consolidated profits stood at EGP 167.6 million, up from EGP 157.6 million in the year-ago period.

Standalone profits reached EGP 167.5 million in the nine-month period of 2017, compared to EGP 159 million in the corresponding period of 2016.

Arabian Cement posted a net profit of EGP 11.9 million in the three-month period ended June 2017 from EGP 108.9 million in Q2-16.