Misr Beni Suef swings to $4.76mln losses in 2022

Misr Beni Suef Cement (MBSC) shifted to net losses after tax worth EGP 145.94 million in 2022, against net profits of EGP 169.05 million in 2021.

The EGX-listed firm reported sales worth EGP 1.84 billion last year, higher than EGP 1.12 billion as of 31 December 2021, according to the income statements.

Loss per share reached EGP 2.15 in January-December 2022, versus earnings per share (EPS) of EGP 1.89 a year earlier.

Meanwhile, the total assets amounted to EGP 2.33 billion during the 12-month period that ended on 31 December 2022, an annual rise from EGP 2.06 billion.

In the first nine months (9M) of 2022, the company swung to consolidated net losses worth EGP 388.27 million, compared to net profits of EGP 83.30 million in 9M-21.

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