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Egypt’s National Cement full-year profit up 18 pct

The firm's unaudited net profit was $56.4 million.

September 6, 2010 3:02 by

Egypt’s National Cement achieved an 18 percent increase in annual net profit as its sales inched higher, the company said in a note to the stock exchange on Monday.

The firm’s unaudited net profit was 321.7 million Egyptian pounds ($56.4 million), the note said.

Sales by volume in the fiscal year to June 30 were 3.1 million tonnes, up from 3 million last year.

National Cement, majority controlled by state-owned Chemical Industries Holding Co., produces and trades cement, clinker and other related construction materials.

(Reporting by Dina Zayed; Editing by Will Waterman)

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