Sinai Cement reports widening net loss in 2019

Egypt’s Sinai Cement has reported a significant widening in its net loss for 2019. The net loss expanded to EGP442.25m (US$28.07m) from an EGP306m loss in 2018.

The company has attributed the results to the accumulated effects of the Egyptian pound devaluation on imported fuel and an increase in the prices of electricity and oil.