Egypt: Sinai Cement returns to profit

Sinai Cement has announced that it earned a net profit of EGP15.4m (US$1.7m) for the first half of 2016, reversing the EGP28.7m losses that it recorded in the same period last year, Mubasher reports.

Performance was even more encouraging when considering the second quarter alone. In the period April to June 2016, Sinai’s profits were EGP52.6m as compared to a loss of EGP17.6m in 2015.