Sinai Cement sees net sales fall in 1Q24

Sinai Cement saw its consolidated net sales fall to EGP1.16bn (US$24.5m) in the first quarter of 2024 (ended 31 March). This compares to EGP1.24bn in the same period a year earlier. Consolidated net profit in the 1Q24 came in at EGP30.11m, versus a net loss of EGP58.47m in the 1Q23. Earnings per share in the three-month period stood at EGP2.26, against a loss of EGP0.44 in the same period a year earlier, reports Zawya. 

On a standalone basis, net profit in the first three months of 2024 was EGP302.77m, compared to a net loss of EGP56.29m in the 1Q23.