Egyptian Tourah Portland Cement net loss widens

Tourah Portland Cement Co more than doubled its third-quarter net loss to EGP35.38m (USD 4.95m) from EGP 14.69m in the same period of last year.

The pre-tax loss stood at EGP37.72m versus EGP 20.57m a year earlier and operating loss amounted to EGP37.3m, compared to EGP 15.45m Gross loss came in at EGP16.9m, against EGP 3.56m. Revenue, however rose to EGP259.14m from EGP169.58m in the comparative period of the year before.

Last week, parent company Suez Cement reported an increase in third quarter profit but was hampered b energy shortages.