Egypt’s South Valley Cement Q1 2016 net profits up 33%

Egypt-based South Valley Cement (SVCE.CA) reported an increase of 33 percent in net profits for the first quarter of 2016.

The cement producer registered net profits of 42.85 million Egyptian Pounds ($4.81 million) in Q1-2016, up from 32.25 million pounds for the same period last year.

The company’s revenues reached 254.82 million pounds  in Q1-2016, compared with 223 million pounds for the similar period of the preceding year, up 14.3 percent.

South Valley Cement earned 71 million pounds($7.97 million) in 2015 compared with 151.18 million pounds profits ($16.98 million) for 2014.