Cairo – Mubasher: Arabian Cement on Monday reported its consolidated financial statements for the first quarter of 2017.
The cement firm logged EGP 59.74 million in net profits in Q1-17, up 75% from EGP 34.14 million in the year-ago period, according to a filing to the Egyptian Exchange (EGX).
Revenues increased 24.3% to EGP 686.8 million, compared to EGP 552.5 million in Q1-16.
Standalone results showed a net profit of EGP 59.1 million in Q1-17, up from EGP 33.3 million in the same period last year.
Arabian Cement had previously posted EGP 245.02 million in consolidated profits in the full year 2016, registering a decline of 11.6% from EGP 277.2 million in 2015.
By 12:29 pm Cairo time, the Egypt-listed firm’s stock rose 0.39% to EGP 10.24.
