Arab Finance: South Valley Cement (SVCE) posted a 54.56% year-on-year (YoY) surge in net loss after tax during the first half (H1) of 2022, recording EGP 117.085 million, according to financial statements filed to the Egyptian Exchange (EGX) on Wednesday.
Sales of the cement segment surged to EGP 325.861 million in H1 2022 from EGP 106.436 million in H1 2021.
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.