Cairo – Mubasher: Misr Cement – Qena logged consolidated net profits valued at EGP 16.93 million in the first half (H1) of 2024, an annual plunge from EGP 63.68 million.

Revenues hiked to EGP 2.29 billion in H1-24 from EGP 1.90 billion a year earlier, according to the financial statements.

Total assets hit EGP 5.05 billion as of 30 June 2024, versus EGP 4.89 billion at the end of December 2023.

Standalone Results

In the first six months (6M) of 2024, the EGX-listed firm registered net profits amounting to EGP 81.30 million, compared to EGP 39.60 million a year earlier.

The revenues enlarged to EGP 1.02 billion in H1-24 from EGP 737.32 million in H1-23, while the earnings per share (EPS) increased to EGP 0.72 from EGP 0.37.

Financials for Q2-24

In the second quarter (Q2) of 2024, the consolidated net losses of Misr Cement jumped to EGP 15.51 million from EGP 21.78 million in Q2-23. Revenues climbed to EGP 1.04 billion from EGP 994.38 billion. 

Misr Cement swung to non-consolidated net profits valued at EGP 32.66 million in April-June 2024, compared to losses of EGP 17.08 million a year earlier.

During the January-March 2024 period, the consolidated net profit after taxes and before non-controlling interest dropped to EGP 32.45 million from EGP 85.47 million in Q1-23.