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Sinai Cement losses deepen in Q1

Sinai Cement losses deepen in Q1
The company's losses 237.7% wider -(Photo Credit: Arabianeye - Reuters)
Sinai Cement
SCEM
-11.33% 11.03 -1.41

Mubasher: Sinai Cement’s consolidated losses widened by 237.7% in the first quarter of 2016, said the company in a bourse filing.

The company lost EGP 37.29 million ($4.2 million) in Q1-16 compared with EGP 11.04 million losses ($1.2 million) in the year-ago quarter.

Meanwhile, its unconsolidated losses for the same period hit EGP 38.06 million.

During 2015, the company turned a loss after registering a net loss of EGP 38.06 million against a net profit of EGP 93.5 million a year earlier.