<ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Cement dispatches clocked in at 4mn tons in Jul-2025,
reflecting a 30% YoY increase, driven by growth in both local and export
volumes of 18% and 84% respectively, mainly due to the low base of Jul-2024.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">On a MoM basis, dispatches rose 16%, with local and export
volumes up 15% and 17% respectively, owing to more working days in Jul-2025 as
Jun-2025 was affected by Eid holidays.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">We maintain an overweight stance on the sector, underpinned
by the anticipated recovery in local demand following a four year low base and
the positive impact of monetary easing, and stron...
