Arabian Cement reports net loss in 2020

Egypt’s Arabian Cement Co has reported an EGP122.78m (US$7.8m) net loss during 2020, compared with an EGP28.92m profit in the previous year. Sales revenues declined 20 per cent YoY to EGP2.48bn from EGP3.1bn.

On a standalone basis, the company saw losses reach EGP116.21m against an EGP30.09m profit in 2019.