Misr Cement Company's Debts Decreased to L.E 962 million

The Managing Director of Misr Cement company Tarik Talaat revealed that his company wrote down its current debts and outstanding loans by more than 7%.

"Misr Cement's combined loan and advance balances decreased to L.E 962 million as of November 15, 202," he said during a press conference.

In the same connection, he noted that the standalone net sales profit grew by 7% and stood at EGP 612 million by the end of September 2021, when compared to EGP 572 million in the same period a year ago.

"During Q3 2021, the listed company reported a 39% YoY increase in consolidated net profit, recording EGP 53 million, when compared to EGP 38 million in the same period a year ago," Tarik revealed.

Contributed by Ahmed Emam