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Sinai Cement’s standalone loss widens 35% in Q1-20

Sinai Cement’s standalone loss widens 35% in Q1-20
The cement producer’s net sales increased to EGP 211.73 million
Sinai Cement
SCEM
8.29% 6.40 0.49

Cairo – Mubasher: The standalone financial statements of Sinai Cement showed net losses of EGP 105.44 million in the first quarter of 2020, an increase of 34.9% year-on-year (YoY) from EGP 78.16 million.

The cement producer’s net sales increased to EGP 211.73 million in the January-March period from EGP 201.08 million in the same period a year earlier, according to a bourse disclosure on Monday.

It is noteworthy to mention that in 2019, Sinai Cement reported consolidated net losses of EGP 446.12 million, compared to EGP 306.2 million in 2018, while its standalone net losses rose to EGP 442.25 million last year from EGP 305.89 million in the prior year.