Misr Cement uncovers its new identity as Misr Cement Group that will have its companies united under one competent management, Invest-Gate reports.

MISR Cement Group embraces 4 key strategic directions, including: operational excellence, growth for leadership, positively impact the environment and building internal capabilities.

Tarek Talaat, Managing Director of MISR Cement Group, revealed the group’s plan to develop its strategy towards reinforcing local and regional leadership.

“For over two decades, the group companies played a pivotal role in cement and concrete sector. Committed to keeping pace with and overcoming the market’s updates and challenges, we adjusted the group’s strategy and policies to join forces under one umbrella (MISR Cement Group),” Talaat said.

This step contributes to our mission to be the partner of choice for our stakeholders, and to grow in Egypt and Africa.

It is worth noting that the group’s net profit increased by 39% QoQ, yielding EGP 53 mn compared to 38 mn in Q2 2021. This comes in line with sales rise by 7%, marking EGP 612 mn versus EGP 572 mn in Q2 2021.

During the first nine months of 2021, the company’s net profit made a giant leap by 211% YoY, recording EGP 122 million, compared to 39 million in 9 months of 2020.

Maximizing sales in the same period, group’s net sales reached EGP 1,897 million versus EGP 1,844 million in the year-ago period, growing by 3%. Also, exportation sales hiked by 200% YoY, amounting to 208k ton in 9 months of 2021 compared to 69k ton in the same period last year.

Misr Cement – Qena is engaged in the manufacturing and marketing of cement and cement-related products in Egypt and abroad.

The company is involved in the production and distribution of construction materials, as well as dealing in all types of construction supplies and equipment.