Sinai Cement’s Q1 losses widen 40%

Net sales rise

Cairo – Mubasher: Sinai Cement incurred consolidated net losses after tax worth EGP 147.97 million in the first quarter (Q1) of 2021, higher 40% than EGP 105.8 million in Q1-20.

Loss per share stood at EGP 2.17 in Q1-21, compared to EGP 1.55 in Q1-20, according to a bourse filing on Thursday.

Net sales amounted to EGP 282.63 million in the January-March 2021 period, higher than EGP 211.73 million in the prior-year period.

The company recently announced its standalone income statements, posting net losses of EGP 146.23 million in Q1-21, compared to EGP 105.44 million in Q1-20. Net sales totalled EGP 282.72 million at the end of March this year.

In 2020, Sinai Cement suffered consolidated net losses worth EGP 560.27 million, including minority interest, up from EGP 446.12 million in 2019.

Source: Mubasher

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