Sinai Cement slashes consolidated loss by 45.3% YoY in 9 months
Updated 11/14/2022 10:14:00 AM
Arab Finance: Sinai Cement Company (SCEM) cut its consolidated loss attributable to the parent company during the first nine months of 2022 by 45.34% year-on-year (YoY), according to the financial statements filed to the Egyptian Exchange (EGX) on November 14th.
Consolidated loss after minority interest stood at EGP 176.70 million in the nine-month period ended September 30th, compared to EGP 323.28 million in the year-ago period.
Net sales rose to EGP 1.61 billion in the January-September period of 2022 from EGP 984.76 million in the same period of 2021.
Meanwhile, the company’s standalone net loss after tax reached EGP 169.33 million in the nine-month period ended September 30th, down from EGP 315.33 million in the corresponding period of 2021.
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.
