Egypt’s Suez Cement: Q1 Net Profit fell to $7.6mn on “Unforeseen Pressures”

Suez Cement, Egypt’s largest listed cement maker by market value, on Thursday reported a first-quarter net profit of 58 million Egyptian pounds (US$7.60 million), down from 169 million a year earlier.

Revenue fell 3 percent said Suez Cement citing “unforeseen pressures” in the construction sector that depressed overall demand for cement products as well as higher energy costs.

Source: Reuters