Misr Beni Suef Cement sees slight increase in FY13 net profit

Egyptian cement manufacturer Misr Beni Suef Cement Co. (MBSC) has released its financial results for FY13 (ended 31 December 2013).

FY13 highlights

• Total sales volumes fell by 7% y/y compared to FY12. Sales in the domestic market accounted for around 75% of total volumes and exports made up the remaining 25%.
• Revenues increased by 20% y/y to EGP1.32 billion compared to FY12 as a result of higher cement prices, which helped to overcome the impact of lower sales volumes.
• Average cement prices in FY13 increased by some 28% y/y to EGP494 per tonne.
• Gross profit improved by 11% y/y compared to the same period a year earlier.
• Net profit stood at EGP336.06 million in FY13, a 0.96% y/y increase from EGP332.84 million in FY12.

Misr Beni Suef Cement’s plant, located in the centre of Egypt around 190 km south of Cairo, has two cement production lines with a production capacity of 3 million tpa. The company manufacturers Portland cement, which is sold in both 50 kg paper sacks and in sealed packing, used for exporting by ship.

Edited from various sources by Rosalie Starling

Read the article online at: https://www.worldcement.com/africa-middle-east/19032014/misr_beni_suef_cement_sees_slight_increase_in_fy13_net_profit_917/