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National Cement logs EGP78m loss in Q1

National Cement logs EGP78m loss in Q1
National Cement
NCEM
0.00% 15.19 0.00
National Cement Co., a subsidiary of Holding Company for Chemical Industries, has posted EGP 77.9 million net loss for the first quarter of FY14/15, against EGP 3.25 million net profit reported in the same period a year earlier.
Financial results for FY13/14 had shown net loss of EGP 102.745 million net loss, against EGP 93.531 million net profit in FY12/13. The company’s financial statements for the 9 month period from July 2013 to March 31, 2014 had shown a decline by 93% in net profit to EGP 3.7 million compared to EGP 55.4 million in the same period a year earlier. The company posted 18.5% fall in H1-13/14 net profit to EGP 19 million, from EGP 23 million reported in the same period a year earlier.