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Sinai Cement reports 44% loss decline

Sinai Cement reports 44% loss decline

ArabFinance: Sinai Cement (SCEM) released its annual financial results, reporting a 44% Year on Year (YoY) decline in its net loss for 2019.

The net loss reached EGP 442.25 million in 2019, a decrease from 306 million achieved a year earlier. 

The company attributed the loss to accumulated effects of Egyptian pound devaluation on imported fuel, in addition, to the increase in prices of electricity and oil.

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