Suez Cement posts 57.26% net profit drop in Q2

For its second quarter (Q2) of 2015, Suez Cement's net profit declined 57.26% year-on-year to EGP 60.9 million (€7.18 million/US$ 7.77 million) from EGP 142.5 million. During the quarter under review, the company's revenue fell 15% when compared to Q2 of the previous year. Suez Cement's Q2 performance was attributed to the company's process of diversifying its energy sources to reduce shortages that affected the company's profits negatively.
July 23, 2015 Read time: 1 min

For its second quarter (Q2) of 2015, 7903 Suez Cement's net profit declined 57.26% year-on-year to EGP 60.9 million (€7.18 million/US$ 7.77 million) from EGP 142.5 million.

During the quarter under review, the company's revenue fell 15% when compared to Q2 of the previous year.

Suez Cement's Q2 performance was attributed to the company's process of diversifying its energy sources to reduce shortages that affected the company's profits negatively.

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