Cairo – Mubasher: South Valley Cement Company posted net losses worth EGP 35.69 million during the first quarter (Q1) of 2021, lower by 13.77% than EGP 41.39 million in Q1-20.

Loss per share stood at EGP 0.074 in Q1-21, compared to EGP 0.086 in Q1-20, according to the financial results on Tuesday.

Revenues meanwhile decreased by 30% to EGP 62.12 million at the end of March 2021 from EGP 88.75 million in the same period last year.

In 2020, the cement company succeeded to reduce its annual losses to EGP 250.59 million from EGP 316.34 million in 2019.