South Valley Cement Says Net Profit Hit EGP 100.5 Mln; H1

South Valley Cement (SVCE.CA) reported Sunday a net profit of EGP 100.497 million during the first half of 2012, compared to a year earlier net profit of EGP 5.028 million.

The remarkable rise in H1/2012 net profit is attributed to the company’s sales which hit EGP 309.494 million, compared to EGP 79.387 million during H1/2011.

Gross profit, after excluding the cost of sales, rose to EGP 140.618 million through H1/2012, compared to EGP 3.017 million a year earlier.

The company’s sales contributed to the remarkable growth in the H/2012 net profits . The sales have hit EGP 309.494 million during H1/2012, compared to EGP 79.387 million a year earlier.

Basic earnings per share reached EGP 0.21 for H1/2012, compared to EGP 0.01 during H1/2011.