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Arabian Cement’s consolidated profits cross EGP 500m in 9M-23

Arabian Cement’s consolidated profits cross EGP 500m in 9M-23
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Cairo – Mubasher: The consolidated net profits attributable to the owners of Arabian Cement Company hiked to EGP 500.24 million in the first nine months (9M) of 2023 from EGP 262.26 million in 9M-22.

Sales amounted to EGP 4.60 billion in 9M-23, higher year-on-year (YoY) than EGP 3.43 billion, according to the consolidated financial results.

Earnings per share (EPS) went up to EGP 1.30 in January-September 2023 from EGP 0.68 a year earlier.

Total assets reached EGP 3.37 billion in 9M-23, versus EGP 3.80 billion as of 31 December 2022.

Standalone Business

Arabian Cement logged standalone net profits after tax valued at EGP 502.69 million in 9M-23, compared to EGP 244.74 million in the year-ago period.

Non-consolidated sales grew YoY to EGP 4.52 billion as of 30 September 2023 from EGP 3.33 billion.

Financials for Q3-23

During the third quarter (Q3) of 2023, the EGX-listed firm recorded YoY higher consolidated net profit attributable to the shareholders at EGP 163.15 million, compared to EGP 142.75 million.

The revenues hiked to EGP 1.41 billion in Q3-23 from EGP 1.30 billion in Q3-22, while the profit per share increased to EGP 0.42 from EGP 0.37.

Standalone net profits after tax soared to EGP 162.13 million in July-September 2023 from EGP 138.78 million in Q3-22, while sales climbed to EGP 1.38 billion from EGP 1.27 billion.

As of 31 March 2023, the consolidated and standalone net profits of Arabian Cement Company hit EGP 241.77 million and EGP 243.04 million, respectively.