Cairo – Mubasher: Arabian Cement Company recorded an annual surge in consolidated net profits after tax attributable to the shareholders to EGP 358.98 million in 2022, versus EGP 34.18 million.

Earnings per share (EPS) stood at EGP 0.93 in the January-December 2022 period, higher than EGP 0.07 in 2021, according to the income statements.

The company's net sales enlarged to EGP 4.67 billion in 2022 from EGP 2.44 billion in 2021, whereas the total assets increased to EGP 3.80 billion from EGP 2.97 billion.

Standalone Financial Results 

Arabian Cement achieved EGP 342.50 million in standalone net profit after tax in 2022, a hike from EGP 27.12 million in the 12-month period that ended on 31 December 2021.

Non-consolidated sales jumped to EGP 4.54 billion last year from EGP 2.34 billion in 2021, whereas the EPS widened to EGP 0.89 from EGP 0.05

Total standalone assets reached EGP 3.75 billion as of 31 December 2022, compared to EGP 2.93 billion a year earlier.

In the first nine months (9M) of 2022, the EGX-listed firm shifted to consolidated net profits worth EGP 262.26 million, against net losses of EGP 23.21 million in 9M-21, including minority shareholders’ rights.