Egypt: 14% decline in profit posted by Suez Cement in first nine months of 2014

In the period between January 2014 and September 2014, 7903 Suez Cement recorded an annual decline of 14% in net profits from EGP 425.60 million (€47.57 million/US$59.50 million) to EGP 363.80 million.

According to the company, the decline was due to fuel shortages. Suez Cement is one of the largest cement producers in Egypt, with an output capacity of 4 million tonnes/year.