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Egypt's Suez Cement SUCE.CA reported a 28.8 percent rise in first-half net profit before minority interest, the Egyptian stock exchange said on Sunday A subsidiary of Italy's Italcementi, Suez Cement posted a profit of 768.99 million Egyptian pounds ($145.1 million), up from 597.04 million a year earlier, the bourse said. It gave no further details. Shares in Egypt's largest cement firm by market value were down 10.1 percent to 40 pounds by 1126 GMT. Meanwhile, the Egyptian stock exchange added that Egypt’s Sidi Kerir Petrochemicals SKPC.CA increased its net profit by 3.1 percent in the first half of 2008 to 593.5 million Egyptian pounds ($112 million). The company reported net profit of 575.9 million pounds in the same period of 2007. Global Investment House had forecast the firm would earn about 637 million pounds in the... [read full story]
