- CONSOLIDATED NET SALES: 2,756 million EGP (-19%)

- CURRENT GROSS PROFIT: 750 million EGP (-39,2 %)

- OPERATING INCOME:  655 million EGP (-27,9 %)

- NET PROFIT AFTER Non-Controlling Interest: 475 million EGP (-27,4%)

Cairo, 28th JULY 2011 – At a meeting on JULY 28 chaired by Mr Omar Abdelaziz Mohanna, the Board of Directors of Suez Cement examined and approved the unaudited consolidated results of first half  , 2011.

Over the result of first half 2011 Suez Cement group, composed of Suez Cement Company, Helwan Cement Company and Tourah Portland Cement Company, and all the affiliated companies reported a consolidated net sales of 2,756 million EGP with a decrease of 19 % compared to the same period of 2010; gross profit and operating income amounted respectively to 750 million EGP and 655 million EGP while the net profit ”after non-controlling interest” amounted to 475 million EGP with a decrease of 27,4 % compared to the same period of 2010.

As of first half 2011 Egypt’s domestic grey cement consumption decreased by 4,9 % compared to the same period of 2010 while the sales of  Suez Cement group of Companies decreased  by 14,3 % for the same period . 

The decrease in sales was mainly due to the instability of market conditions resulting from the political situation and new producer competitors entry.