Cairo – Mubasher: Tourah Portland Cement Co. has reported a 2,527% year-on-year hike in loss during the first nine months of 2019.

The company’s loss reached EGP 516.56 million from January to September 2019, compared to EGP 19.6 million in the year-ago period, according to a bourse statement released on Tuesday.

Sales nearly halved to EGP 488.5 million in the January-September period, against EGP 835.16 million the year before.

Quarterly, Tourah Cement’s loss grew to EGP 55.3 million in the third quarter of 2019, from EGP 17.4 million in Q3-18.

The EGX-listed company’s losses surged to EGP 461.25 million in the first half of 2019 versus EGP 2.24 million in the year-ago period.