Sinai Cement posts EGP 354M consolidated loss in 2021
Updated 4/3/2022 9:42:00 AM
ArabFinance: Sinai Cement Company (SCEM) has reported a consolidated loss attributable to the parent company of EGP 354.03 million in 2021, down from EGP 560.267 million in 2020, according to financial statements filed to the Egyptian Exchange (EGX) on Sunday.
Net sales surged to EGP 1.443 billion in the full year ended December 31st 2021, from EGP 889.162 million the year before.
Sinai Cement’s standalone net loss after tax reached EGP 344.997 million in 2021, down from EGP 553.98 million in 2020, financial statements showed.
Sinai Cement is engaged in the manufacture and packing of different types of cement and its related products.
The Egypt-based company also produces clinker, cement, and other related products, in addition to cement packing bags.
