Suez Cement: New Investments Of €18 Mln After Elections

By Yomna Yasser On Jun 13, 2012

Suez Cement (SUCE.CA) will be injecting investments worth €18 million within the coming two months after the Egyptian runoff elections.
“These investments will be injected for three coming years.” Hanan Nayel, Suez Cement Group Communications & Image Director added
“Suez Cement has preferred to delay its coming investments till the end of the elections so that we could know the main features of the coming phase.”
Nayel has mentioned that these investments shall be in the field of renewable energy so that considerable amounts of energy used in the company’s plants would be provided.
Worth mentioning, Suez Cement’s consolidated financial statements for Q1/ 2012 has revealed that the company has posted net profits of EGP 141.232, 49.1% down, compared to net profits of EGP 277.403 million a year earlier.

Elsewhere, the unconsolidated financial statements for the same comparable period revealed that the company posted net profits of EGP 67.685 million, compared to net profits of EGP 611.175 million a year earlier.