Sinai Cement’s consolidated loss tumbles 60.6% YoY in H1
Updated 8/15/2022 12:22:00 PM
Arab Finance: Sinai Cement Company (SCEM) registered a 60.57% year-on-year (YoY) decline in consolidated loss attributable to the parent company during the first half (H1) of 2022, recording EGP 102.359 million, according to financial statements filed to the Egyptian Exchange (EGX) on Monday.
Revenue surged to EGP 1.025 billion in H1 2022 from EGP 639.935 million in H1 2021.
The company’s standalone net loss after tax reached EGP 97.216 million in the six-month period ended June 30th, down from EGP 252.667 million the year before.
Sinai Cement is an Egypt-based company that operates in the production of clinker, cement, and other related products, in addition to cement packing bags.
