SCGCs Board of Directors examines the results as of sept. 2010
CONSOLIDATED NET SALES: 4,687 MILLION EGP (-2.1%)
CURRENT GROSS PROFIT: 1,698 MILLION EGP (3.35%)
OPERATING INCOME: 1,256 MILLION EGP (-9.95%)
NET PROFIT AFTER INCOME TAXES: 906,7 MILLION EGP (-8.5%)
Cairo, 27th October 2010, At a meeting on October 27 chaired by Mr Omar Abdelaziz Mohanna, the Board of Directors of Suez Cement examined and approved the unaudited consolidated results as of September 30, 2010.
Over the first 9 months of 2010 Suez Cement group, composed of Suez Cement company, and all the affiliated companies reported a 2.1 % compared to the same period of 2009; gross profit and operating income amounted respectively to 1,698 million EGP and 1,256 million EGP while the net profit after non-controlling interest" amounted to 906,7 million EGP with a decrease of 8.5 % compared to the same period of 2009.
Over the first 9 months of 2010 Egypt`s domestic grey cement consumption increased by 2.8 % compared to the same period of 2009 while the sales of Suez Cement group of companies decreased by 4.6 % over the same period.