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Alexandria Portland Cement’s indicators show 26% loss increase in H1-20

Alexandria Portland Cement’s indicators show 26% loss increase in H1-20
The cement producer’s sales declined to EGP 1.012 billion
Alexandria Cement
ALEX
-1.69% 5.96 -0.10

Cairo – Mubasher: Alexandria Portland Cement reported net losses of EGP 212.75 million in the first half (H1) of 2020, up by 26% year-on-year (YoY) from EGP 168.99 million, the company’s unaudited consolidated financial results showed.

The cement producer’s sales declined to EGP 1.012 billion in the January-June period, compared to EGP 1.13 billion in the corresponding period a year earlier, according to a bourse disclosure on Tuesday.

The standalone financial indicators posted net losses of EGP 150.84 million in H1-20, up from EGP 115.8 million in H1-19.

It is noteworthy to mention that during the first quarter of 2020, the company suffered net losses of EGP 35.82 million in the January-March period, compared to EGP 77.58 million in the year-ago period.