Egypt’s South Valley Cement Co has reported net losses after tax of EGP37.05m (US$1.19m) in the opening quarter of 2023, up from EGP31.2m in the same period a year earlier. Sales over the same time frame came in at EGP338.32m, up from EGP206.32m in the 1Q22.

In terms of earnings per share, a loss of EGP0.07 was seen in the first quarter of 2023, compared to a loss of EGP0.06 in the opening three months of 2022.

The company runs one integrated cement plant in Beni Suef.