Cairo – Mubasher: Sinai Cement witnessed an annual drop in consolidated net losses after tax to EGP 330.41 million in 2022, compared to EGP 354.03 million, including minority interest.

The EGX-listed firm generated sales worth EGP 2.34 billion last year, higher than EGP 1.44 billion in 2021, according to the financial results.

Loss per share reached EGP 2.48 as of 31 December 2022, versus EGP 5.20 a year earlier.

Meanwhile, the total assets hit EGP 2.87 billion in 2022, up from EGP 2.75 billion in January-December 2021.

Standalone Income Statements

The company incurred standalone net losses after tax worth EGP 319.80 million in 2022, lower than EGP 344.99 million in 2021.

Non-consolidated loss per share plummeted to EGP 2.40 last year from EGP 5.07 as of 31 December 2021, while the total assets increased to EGP 2.89 billion from EGP 2.76 billion.

In the first nine months (9M) of 2022, Sinai Cement registered consolidated net losses of EGP 179.89 million, a plunge from EGP 333.71 million in 9M-21, including minority shareholders’ rights.