Egypt: NCC incurs US$13.5m losses

Egypt’s National Cement Company (NCC) incurred net losses of EGP119.9m (US$13.5m) during fiscal year 15-16, an improvement when compared to the EGP282.5m registered for the previous year.

NCC chairman, Saeed Abdel Moty, reported that the company attained revenues of EGP858.8m in FY16-16 versus EGP756.5m a year earlier. Mr Moty added that NCC has recently invested approximately EGP1.0bn in its environmental improvement project.