Arab Finance: Sinai Cement Company (SCEM) cut its consolidated loss attributable to the holding company by 6.67% to EGP 330.408 million in 2022 from EGP 354.030 million, according to financial statements filed to the Egyptian Exchange (EGX) on March 8th.

Net sales surged to EGP 2.343 billion in the full year ended December 31st 2022 from EGP 1.443 billion the year before.

Sinai Cement’s standalone net loss after tax reached EGP 319.800 million in 2022, down from EGP 344.997 million in 2021, financial statements showed.

Sinai Cement is engaged in the manufacture and packing of different types of cement and its related products.

The Egypt-based company also produces clinker, cement, and other related products, in addition to cement packing bags.

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