Cairo – Mubasher: Misr Beni Suef Cement (MBSC) reported a 101% year-on-year (YoY) surge in its net profits during the first quarter of 2020.
The cement producer’s net profits soared to EGP 59.37 million in the three-month period ended on 31 March, compared to EGP 29.53 million in the year-ago period, according to a bourse disclosure on Thursday.
Meanwhile, sales declined to EGP 404.96 million in Q1-20 from EGP 435.97 million in Q1-19.
It is noteworthy to mention that in 2019, the company’s net profits dwindled to EGP 80.25 million from EGP 241.49 million in 2018.
