Sinai Cement Company (SCEM) posted a consolidated net profit attributable to the holding company for the first quarter (Q1) of 2024 amounting to EGP 301.120 million, versus net losses totaling EGP 58.478 million, according to the consolidated financial income statement filed to the Egyptian Exchange (EGX) on June 2nd.

Net sales stood at EGP 1.164 billion in the period from January 1st until March 31st of this year, down from EGP 1.243 million in the same period last year.

At the level of the standalone financial statement, the company achieved net profits after tax in Q1 2024 worth EGP 302.778 million, versus net losses of EGP 56.295 million in Q1 2023.

Sinai Cement is an Egypt-based company that operates in the production of clinker, cement, and other related products, in addition to cement packing bags.

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