Egypt’s MBSC sales rise 20% in 2013

Egypt's Misr Beni Suef Cement (MBSC) recorded a 20% year-on-year rise in revenue in 2013 to €136.12 million (EGP 1.32 billion). Gross profit rose by a more modest 11%, with the margin down 180 basis points to 23.2% due to higher energy costs. Although sales volume fell 7%, brining capacity utilisation down to 89%, average cement prices climbed 28% to reach an average of €51.28 (EGP 494) per tonne.