Suez Cement Says Net Profit Falls 26.5%; H1 Audited

Suez Cement (SUCE.CA) has reported a net profit of EGP 501 during the first half of 2012, 26.5% down from a year earlier net profit of EGP 682 million.

Sales fell to EGP 735 million during H1/2012, compared to EGP 880 million during H1/2011. Working capital rose to EGP 558 million, compared to EGP 338 million.

Total investments hiked to EGP 5.8 billion through H1/2012, compared to EGP 5.6 billion in H1/2011.

Meanwhile, consolidated business results for the first quarter of 2012 revealed a net profit of EGP 141.232 million, 49.1% down from a year earlier net profit of EGP 277.403 million.

Moreover, the standalone business results for Q1/2012 recorded a net profit of EGP 67.685 million, compared to Q1/2011 net profit of EGP 611.175 million.