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Country-Plan Projects and Tenders |
| 8967 Subject |
زيادة في حجم المبيعات والأرباح لشركة أسيك للأسمنت وبيان حساباتها المالية للنصف الأول من سنة 2005 ASEC Cement Co. SAE publishing its financial statements for the first half of 2005 showing increased sales & profits. |
| Date Published | Sunday, July 31, 2005 |
| Source Name | Al-Ahram |
| Location Name | Cairo |
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Description Date Format: (mm/dd/yyyy) |
ASEC Cement Co. SAE, operating under law 159/ 1981 & capitalized at L.E. 1,177 million, fully paid up, has posted for the first half of 2005 some L.E. 197.9 million net profits on L.E. 575.6 million net sales. Figures compare with L.E. 12.6 million net profits posted for the first half of 2004 on L.E. 377.2 million net sales. Net working capital as at 6/30/2005 continued to show a deficit but it declined tangibly to L.E. 552.3 million, down from [a deficit of] L.E. 1,221 million six months ago. On the other side, long term liabilities as at 6/30/2005 declined to L.E. 824.7 million down from L.E. 988.8 million six months ago. As regards the company net equity has increased as at 6/30/2005 to L.E. 988.95 million up from L.E. 469.6 million six months ago as a result of increasing the company issued & paid up capital to L.E. 1,177 million up from L.E. 855.5 million six months ago. Chairman & CEO of the Company is Eng. Mohamed Galal Yaqout. N.B. To which extent the statements would expedite or delay Ital Cementi Group decision to buy out ASEC Cement Co., particularly after ASEC having rescheduled its debts with Banque Misr that remains to be seen. Interested parties are requested to refer to the detailed statements prior to any final conclusions. |
| Sectors Section | Beneficiary Sectors - Industry Cement |
