Cairo –  The net losses after tax of South Valley Cement Company plummeted year-on-year (YoY) to EGP 63.10 million in the first nine months (9M) of 2023 from EGP 83.81 million.

The company posted revenues amounting to EGP 592.50 million in 9M-23, down from EGP 614.09 million in 9M-22, according to the financial statements.

Loss per share reached EGP 0.13 in the January-September 2023 period, an annual decrease from EGP 0.17.

Total assets climbed to EGP 4.03 billion in 9M-23 from EGP 4 billion as of 31 December 2022

Financials for Q3-23

During the third quarter (Q3) of 2023, South Valley Cement logged net profits after tax valued at EGP 13.14 million, compared to EGP 33.26 million in Q3-22.

The revenues dropped to EGP 128.49 million in Q3-23 from EGP 288.52 million a year earlier, while the earnings per share (EPS) fell to EGP 0.03 from EGP 0.06.

In the first half (H1) of 2023, the EGX-listed firm reported net losses after tax worth EGP 76.24 million, lower than EGP 117.08 million in H1-22.

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