Sinai Cement swings into the red in 9M17

Egypt’s Sinai Cement has reported losses of EGP-253.5m (US$-14.4m) in the first nine months of the year, against profits of EGP21.8m in 9M16, as shown by the company’s independent financial statements.

During the nine-month period, sales rose to EGP939.29m, up 1.1 per cent from EGP929.22m in the year-ago period.

Sales costs quadrupled to EGP972.2m from EGP235.3m.