Cairo – Mubasher: Suez Cement’s consolidated profits for the first quarter of 2016 plunged 93.1% year-over-year to EGP4.3 million ($484,000) from EGP62.83 million ($7.1 million), according to a bourse filing.
Meanwhile, its standalone profits stood at EGP71.9 million during the same period, 76.2% down from EGP302.2 million for the year-ago quarter.
In 2015, the cement producer’s consolidated loses deepened to EGP60 million against a net profit of EGP499.7 million a year earlier.
Earlier, its general meeting gave nod to FY15 dividend payout at EGP1 per share, totaling EGP181.8 million.
