Sinai Cement Company (SCEM) posted a 22.12% year-on-year (YoY) drop in consolidated net loss attributable to the holding company for the first half (H1) of 2023, according to the consolidated financial income statement filed to the Egyptian Exchange (EGX) on August 15th.
The company incurred a consolidated net loss excluding minority interest of EGP 79.719 million in H1 2023, down from a net loss of EGP 102.359 million in the year-ago period.
Net sales stood at EGP 2.363 billion in the period from January 1st until June 30th of this year, up from EGP 1.025 billion in the same period last year.
At the level of the standalone financial statement, the company cut its standalone net loss after tax in H1 2023 to EGP 72.797 million from EGP 97.215 million in H1 2022.
Sinai Cement is an Egypt-based company that operates in the production of clinker, cement, and other related products, in addition to cement packing bags.
