By Amina El-Farnawany
The Suez Cement Company’s profits have decreased in the nine months ending in September 2015. There was an 81% decline in comparison to the same period last year.
The net profit for this period was EGP 69.4m ($8.7m) in comparison to EGP 363.8m ($45.5m) last year, as shown in the consolidated financial statements of the company. Meanwhile, the net profit was EGP 353.4m in comparison to EGP 427.2m during the same period in 2014.
The net profits of the company for the first half (H1) of this year have decreased by 61.87%. The net profit was EGP 119m, in comparison to EGP 312m during the same period of last year.
Suez Cement’s capital amounts to EGP 909.3m divided over 181.86m shares. The price of the company’s share was EGP 5 but declined by EGP 0.74 in the last trading session. The size of trade reached 57,300 shares worth EGP 1.72m.
The company’s profits have been continuing to decrease, as on a quarterly basis, net profit for the second quarter (Q2) marked EGP 60.9m, down from EGP 142.5m in Q2 of 2014, the company had revealed.