Misr Cement Qena Q1 profit falls 11 pct

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CAIRO: Egypt’s Misr Cement Qena posted an 11 percent drop in 2011 first quarter net profit to LE 103.7 million ($17 million), the stock exchange said on Wednesday.

The firm is one of the first to report first quarter results, which analysts have been waiting for keenly as an indication of how strongly companies were affected by the political turmoil that toppled President Hosni Mubarak.

Misr Cement’s profit in the first quarter of 2010 was LE 117.7 million.



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