South Valley Cement cuts losses in 2021

Updated 4/14/2022 11:30:00 AM

ArabFinanceSouth Valley Cement (SVCE) reported a net loss after tax of EGP 225.451 million in 2021, down from EGP 250.594 million in 2020, according to financial statements filed to the Egyptian Exchange (EGX) on Thursday.

Sales of the cement segment dropped to EGP 284.397 million in the full year ended December 31st 2021, from EGP 350.212 million in 2020.

South Valley Cement is an Egypt-based company engaged in the manufacture of cement and its associated products, as well as a range of building materials products. The company’s product portfolio consists of three main categories: clinker, portland ordinary cement, and ready-mix concrete.