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Suez Cement's financial indicators show EGP 293m losses in 6M

Suez Cement's financial indicators show EGP 293m losses in 6M
Net losses reached EGP 293.4 million in H1-19
Suez Cement
SUCE
-12.19% 28.10 -3.90

Cairo – Mubasher: Suez Cement moved to losses during the first half of 2019, the company's financial indicators showed. 

Net losses reached EGP 293.4 million in H1-19, against profits of EGP 238.2 million in H1-18, according to the company’s statement to the Egyptian Exchange (EGX) on Wednesday.

The company generated EGP 3.3 billion in revenues during the first six months of 2019, compared to EGP 3.96 billion in the same period the year before.

In a separate statement, standalone losses recorded EGP 590.5 million during the six-month period ended June, versus EGP 165.6 million in the corresponding period of 2018.

It is worth noting that, Suez Cement achieved EGP 213.07 million in profits during the first quarter of 2019.