ArabFinance: South Valley Cement (SVCE) reported a 30.75% Year on Year decline in its net loss in the first half (H1) of 2020, according to the company’s October 18th financial statements filed to the Egyptian Exchange.
Net loss stood at EGP 69.82 million in H1 2020, compared to EGP 100.82 million achieved in H1 2019.
Sales declined by 21.49% YoY to EGP 196 million in the three months ended on June 30th 2020, compared to EGP 249.67 million.
During the first quarter of the year, South Valley suffered a net loss of EGP 41.39 million.
In 2019, the company incurred a net loss of EGP 316,348,814,against net profit of EGP 10,189,909 in 2019.
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.
