Cairo – Mubasher: The net losses of South Valley Cement Company hiked to EGP 46.30 million in the first quarter (Q1) of 2024 from EGP 37.05 million in Q1-23.

The company generated revenues amounting to EGP 328.37 million in the January-March 2024 period, versus EGP 338.32 million a year earlier, according to the financial results.

Loss per share hit EGP 0.09 in the first three months (3M) of 2024, up year-on-year (YoY) from EGP 0.07.

Total assets increased to EGP 7.13 billion in Q1-24 from EGP 7.12 billion as of 31 December 2023.         

In 2023, the EGX-listed firm reported YoY lower net losses at EGP 194.65 million, versus EGP 208.74 million.