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News Misr Cement Qena’s sales rise by 2% year-on-year in first quarter of 2020

Misr Cement Qena’s sales rise by 2% year-on-year in first quarter of 2020

Written by Global Cement staff 12 June 2020
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Egypt: Misr Cement Qena’s first quarter sales were US$50.4m in 2020, up by 2.0% year-on-year from US$49.1m in the first quarter of 2019. Daily News Egypt has reported that the company’s debts on 31 March 2020 were US$30.0m, down by 20% from US$37.5 on 31 December 2019. Misr Cement Qena managing director Tarek Talaat said, “The extraordinary performance in the quarter will contribute to alleviating the repercussions of the coronavirus outbreak on the company’s 2020 results.” Talaat urged the “revitalisation of demand” to boost prices. Egyptian producers produced 78.0Mt of cement in 2019, 29.3Mt surplus to the domestic cement demand of 48.7Mt/yr.

Last modified on 17 June 2020
Published in Global Cement News
Tagged under
  • Egypt
  • Misr Cement Qena
  • Results
  • coronavirus
  • Overcapacity
  • GCW460
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