Cairo – Mubasher: Suez Cement announced turning to losses during the second quarter of 2017 year-on-year, according to a bourse filing on Monday.

Losses amounted to EGP 82.15 million in Q2-17, versus profits of EGP 49.43 million in Q2-16.

The cost of sales rose to EGP 1.48 billion in Q2-17, compared to EGP 1.19 billion year-on-year.

In the first half of 2017, consolidated losses reached EGP 40.61 million, versus profits of EGP 53.76 million in H1-16, taking minority rights into consideration.

Standalone profits dropped to EGP 20.82 million in H1-17 from EGP 124.14 million in H1-16.

Consolidated profits soared 860% to EGP 41.53 million in Q1-17 from EGP 4.3 million in Q1-16.