SCGC’S Board of Directors examines first quarter 2010 results
CONSOLIDATED NET SALES: LE 1674.7 MILLION
CURRENT GROSS PROFIT: LE 589.7 MILLION
OPERATING INCOME: LE 433.6 MILLION
NET PROFIT AFTER INCOME TAXES: LE 364.7 MILLION
Cairo, Egypt ‐ 12th May, 2010, Suez Cement's Board of Directors, at a meeting chaired by Mr. Omar Abdelaziz Mohanna, examined and approved the consolidated results for the first quarter 2010.
In the first quarter of 2010, Suez Cement group composed of Suez Cement Company, Helwan Cement Company and Tourah Portland Cement Company, and all affiliated companies reported consolidated net sales of LE1674.7 million, representing an increase of 2.3% compared to the same period last year; gross profit amounted to LE 589.7 million, recording an increase of 2.5% compared to the corresponding period of 2009, while operating income and net profits, respectively, stood at LE433.6 and LE364.7 million, showing a decrease of 11.9% and 8.4% when compared to the same period last year.
During the first quarter of 2010 local grey cement consumption increased by 9.9% compared to the same period last year and Suez Cement group of Companies increased the volume of grey sales by 1.3 % compared to the corresponding period of the previous year.