Modern Waterproofing Company is specialized in manufacturing bituminous roofing and waterproofing membranes. Its success lies in its top quality products being availed to its clients at competitive prices. Soon after its establishment it has captured the local bituminous membrane market, and has become the market leader in Egypt. Currently their product (Bitumode) is exported to over 30 countries worldwide in Asia, the Middle East, Africa and Europe.
Financial Performance:
In September 2011, Bitumode reported consolidated financial results posting a net profit of EGP6.4 million for 1H 2011 vs. EGP7.9 million for 1H 2010. Bitumode.s fin. statements for the first nine months of FY11 reflected net earnings of EGP5.286 million, falling 43.5% compared with EGP 9.348 million in year-earlier period.