Egypt's Arabian Cement makes $16 mln net profit in Q1

Reuters, Thursday 22 May 2014

Egypt's Arabian Cement Company made a LE116.4 million ($16.3 million) net profit for the first quarter, its first earnings announcement since the firm listed on the country's stock exchange earlier this month.

Arabian Cement was the first major listing on Cairo's bourse since the 2011 political uprising, raising $110 million.

The board also approved a LE0.11 dividend per share on the first-quarter profit.

Arabian Cement has a production capacity of 5 million tonnes a year and a market share of around 8 percent.

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