Cairo – Mubasher: Sinai Cement reported a consolidated net loss after tax of EGP 121.42 million in 2023, down from EGP 330.41 million a year earlier, according to a bourse filing.

Net sales surged to EGP 4.28 billion last year from EGP 2.34 billion in 2022, according to the annual financial results.

The loss per share of the holding company tumbled to EGP 0.91 in 2023 from EGP 2.48 the year before.

Standalone Financials

The company’s standalone net loss after tax plummeted to EGP 117.58 last year from EGP 319.80 million in 2022.

Standalone net sales soared to EGP 4.28 billion in the 12-month period that ended on 31 December 2023 from EGP 2.34 billion in the same period a year ago.

During the first nine months (9M) of 2023, Sinai Cement reported consolidated net losses after tax valued at EGP 121.45 million, an annual drop from EGP 176.70 million, including minority interest.