Cairo - Mubasher: Arabian Cement Company (ACC) turned to standalone net profits of EGP 244.74 million during the first nine months (9M) of 2022, against net losses of EGP 24.53 million in the same period in 2021, including minority shareholders’ rights.

Earnings per share (EPS) recorded EGP 0.63 in the nine-month period ended 30 September 2022, versus a loss per share of EGP 0.08 in the prior-year period, according to a bourse disclosure on Thursday.

The revenues reached EGP 3.33 billion in 9M-22, a jump from EGP 1.56 billion in 9M-21.

In a separate statement, the company said its board proposed a cash dividend distribution of EGP 249.96 million to shareholders for the January-September 2022 period along with a sum of EGP 6.92 million for the company’s employees.

In the first half (H1) of 2022, the company turned profitable, gaining EGP 119.49 million in net profits, versus net losses of EGP 23.28 million in H1-21, including minority shareholders’ rights.