Cairo – Mubasher: Sinai Cement turned to a consolidated net profit of EGP 301.11 million during the first quarter (Q1) of 2024, versus a net loss of EGP 58.47 million in the same quarter a year earlier.

Consolidated net sales declined to EGP 1.16 billion in Q1-24 from EGP 1.24 billion in Q1-23, according to interim financial statements.

The company reported earnings per share (EPS) of EGP 2.26 in the three-month period that ended on 31 March 2024, against a loss per share of EGP 0.44 in the equivalent period of last year.

Standalone Results

Sinai Cement also shifted to a standalone net profit of EGP 302.77 million in the January-March period, compared to a net loss of EGP 56.29 million in the corresponding period the year before.

Standalone net sales declined to EGP 1.16 billion in Q1-24 from EGP 1.24 billion in Q1-23.

In 2023, Sinai Cement logged a consolidated net loss after tax of EGP 121.42 million, down from EGP 330.41 million in 2022.