South Valley Cement’s losses fall 41.5% YOY in 9 months
Updated 11/6/2022 11:46:13 AM
Arab Finance: South Valley Cement (SVCE) posted a 41.47% year-on-year (YoY) decline in net loss after tax during the first nine months of 2022, according to the financial income statement filed to the Egyptian Exchange (EGX) on November 6th.
The company incurred a net loss of EGP 83.81 million in the January-September period of 2022, compared to a loss of EGP 143.20 million in the year-ago period.
Sales of the cement segment surged to EGP 613.08 million in the nine-month period ended September 30th from EGP 180.84 million in the same period last year.
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.
