Sinai Cement cuts consolidated loss by 22% YoY in 1H23

Sinai Cement Co posted a 22.12 per cent YoY drop in consolidated net loss attributable to the holding company for the 1H23, according to the consolidated financial income statement filed to the Egyptian Exchange (EGX) on 15 August.

The company incurred a consolidated net loss excluding minority interest of EGP79.719m (US$2.58m) in 1H23, down from a net loss of EGP102.359m in 1H22. Net sales stood at EGP2.363bn in the period from 1 January until 30 June of this year, up from EGP1.025bn in the same period last year.

The company cut its standalone net loss after tax in 1H23 to EGP72.797m from EGP97.215m in 1H22.