|26 March, 2020

Sinai Cement reports 44% loss decline

The company attributed the loss to accumulated effects of Egyptian pound devaluation on imported fuel

ArabFinance:Sinai Cement(SCEM) released its annual financial results, reporting a 44% Year on Year (YoY) decline in its net loss for 2019.

The net loss reached EGP 442.25 million in 2019, a decrease from 306 million achieved a year earlier.

The company attributed the loss to accumulated effects of Egyptian pound devaluation on imported fuel, in addition, to the increase in prices of electricity and oil.

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