South Valley Cement incurs standalone loss of EGP 265M
Updated 6/15/2020 10:25:00 AM
ArabFinance: South Valley Cement Company (SVCE) suffered a standalone net loss of EGP 265,077,690 in 2019, against a net profit of EGP 10,189,909 achieved in 2018, according to the company's June 14th disclosure filed to the Egyptian Exchange.
In the first nine months of 2019, the company incurred a net loss of EGP 173,966,435, a 930% rise from EGP 16,883,999 recorded in the corresponding period.
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.
