Cairo – Mubasher: Misr Beni Suef Cement (MBSC) reported net profits of EGP 37.42 million during the first quarter (Q1) of 2021, down by 37% year-on-year (YoY) from EGP 59.37 million.

The cement producer’s sales slid to EGP 255.92 million in the January-March period, compared to EGP 404.96 million in the corresponding period a year earlier, according to a bourse disclosure on Wednesday.

Over the course of 2020, the company logged net profits of EGP 76.38 million, down from EGP 80.24 million a year earlier.

The sales declined to EGP 1.19 billion last year, compared to EGP 1.8 billion in 2019.