South Valley Cement Company turned to profitability in the fourth quarter of fiscal year 2016, compared to the same period last year. Net profit for Q4-16 reached EGP 104.14 million, versus a net loss of EGP 1.83 million for Q4-15, according to a bourse filing released last week. Net profit for FY16 reached EGP 205.9 million, 190% up from EGP 71.07 million for FY15. Sales increased in FY16 to EGP 955.9 million from EGP 908.06 million in FY15.
