Cairo – Mubasher: Arabian Cement has reported a 96.3% year-on-year decline in consolidated profits for the first quarter of 2019.
Net profit totalled EGP 5.97 million in the three-month period ended 31 March, compared to EGP 162.01 million in the year-ago period, the company said in a filing to the Egyptian Exchange (EGX).
The cement producer’s sales retreated to EGP 827.85 million in Q1-19, versus EGP 913.93 million in Q1-18.
At the level of standalone business, the EGX-listed company recorded EGP 4.23 million in profits in Q1-19, versus EGP 160.95 million in the same quarter of 2018.
In 2018, Arabian Cement posted a net consolidated profit of 231.6 million, up 7.4% from EGP 215.6 million in 2017.
