Egypt- Torah Cement 2009 profits rise 23% 

(MENAFN) A statement released by Egypt's Torah Cement said that the company posted a 23 percent rise in 2009 net profit to $62 million, compared with The firm made a net profit of $50.3 million in 2008, Reuters reported.

Torah is a subsidiary of Egypt's largest listed cement maker, Suez Cement, which posted a 25 per cent rise in 2009 net profit last month, driven by higher sales in a construction boom.

Government stimulus spending on infrastructure and growing demand for housing helped fuel a 25 percent rise in cement demand in 2009, with total production topping 50 million tons.

Suez, a subsidiary of Italcementi, holds approximately 26 percent of Egypt's market share for grey cement and 42 percent for white cement.