Amereya Cement (AMRI.CA) will hold its ordinary and extraordinary general assemblies on March 8 to approve FY2000 financial statements and the distribution of profits.
Alexandria Flour Mills (AFMC.CA) reported 1Q FY2001 results ending September, in which NPAT fell 37 percent to LE1.1 million compared to LE1.8 million in 1Q FY2000. Accordingly, net sales dropped 19.1 percent to LE94.6 million versus LE116.9 million while COGS/Revenues increased to 95.7 percent from 95 percent in 1Q FY2000.
The Ministry of Public Enterprise dismissed rumors that cement companies intend to increase prices. Instead, cement companies have only reduced the discounts granted to distributors back to the previous average level of 5 percent down from 15 percent.
Prime Securities S.A.E.
© 2001 Mena Report (www.menareport.com)
