Cement News tagged under: Sinai Cement
Sinai Cement announces widening net loss in the 1H2028 August 2020, Published under Cement NewsEgypt’s Sinai Cement Co has seen its consolidated net loss widen to EGP247.6m (US$15.6m) in the first half of 2020, against EGP187.2m in the year-ago period. Its standalone net loss also expanded to EGP245.7m from EGP186.4m last year. The company attributed its losses in 2019 to the Egyptian pound devaluation on imported fuel, in addition to the higher prices of electricity and oil. |
Sinai Cement sees net losses widen in 1Q2016 June 2020, Published under Cement NewsEgypt’s Sinai Cement saw its net losses widen 35 per cent YoY to EGP105.44m (US$6.5m) in the first quarter of 2020, compared to a loss of EGP78.16m in the corresponding period of last year. However, the company’s net sales increased 5.3 per cent YoY to EGP211.73m from EGP201.08m in the 1Q19. |
Sinai Cement reports widening net loss in 201926 March 2020, Published under Cement NewsEgypt’s Sinai Cement has reported a significant widening in its net loss for 2019. The net loss expanded to EGP442.25m (US$28.07m) from an EGP306m loss in 2018. The company has attributed the results to the accumulated effects of the Egyptian pound devaluation on imported fuel and an increase in the prices of electricity and oil. |
Sinai Cement sees net loss widen 30% YoY15 November 2019, Published under Cement NewsEgypt’s Sinai Cement has seen its net loss widen 30 per cent YoY to EGP331.22m (US$20.53m) during the first nine months of 2019, compared to EGP293.14m in the 9M18. The cost of sales also showed a modest 3.7 per cent increase to EGP699.931m from EGP675.11m. In the 1H19 the company’s consolidated loss widened to EGP187.23m from EGP155.74m in the corresponding period of 2018. |
Reliance Logistics acquires 92% of Sama Cement's share capital04 October 2019, Published under Cement NewsReliance Logistics Co has acquired 3.68m stocks of Egypt’s Sama Cement, representing 92 per cent of the company’s share capital. Sama Cement owns 6.8 per cent of Sinai cement, with Reliance Logistics reporting that its indirect and direct stakes in the latter have now reached 17.4 per cent. |
Sinai Cement records 20% loss increase in 1H1928 August 2019, Published under Cement NewsEgypt’s Sinai Cement has seen its net loss widen 20.2 per cent YoY to EGP187.23m (US$11.3m) during the first six months of 2019, compared with EGP155.74m in the 1H18. The cost of sales advanced 23 per cent to EGP424.54m from EGP345.07m. However, net sales increased 12.7 per cent to EGP346.19m from EGP307.29m. |
Sama Cement reduces stake in Sinai Cement30 May 2019, Published under Cement NewsSama Cement has announced that it has sold around 2m shares in Sinai Cement, decreasing its stake in the company from 9.689 per cent to 6.75 per cent, according to a statement released to the Egyptian Stock Exchange. The total value of the transaction was estimated at EGP16.5m (US$981,985), based on a price of EGP8.25 per share. The news follows El Sewedy Cement selling its 7.476 per cent share earlier in the month. |
El Sewedy Cement sells Sinai Cement stake21 May 2019, Published under Cement NewsEgypt-based El Sewedy Cement has sold its entire stake of 7.476 per cent in Sinai Cement’s capital for EGP41.97m (US$2.46m), or at an average price of EGP8.25/share, EFG Hermes said in a statement to the Egyptian Exchange on Monday. In the first quarter of 2019, Sinai Cement’s net losses eased to EGP-78.18m from EGP-83.98m in the year-ago period. Revenues increased to EGP201.08m, up from EGP147.99m in the 1Q18. |
Sinai Cement records improvement in 201812 March 2019, Published under Cement NewsEgypt’s Sinai Cement has reported that its standalone loss has narrowed by 13.7 per cent YoY in 2018 to EGP305.89m (US$17.56m), compared to EGP354.73m in the previous year. The improvement has been attributed to investment revenue and lower expenses, as well as collecting credit interests. However, revenue declined 37.7 per cent to EGP803.68m from EGP1.29bn. The company noted that cement consumption in Egypt fell five per cent in 2018. |
Vicat04 February 2019, Published under Cement NewsVicat subsidiary Sinai Cement is to invest up to a further EUR30m to meet the increasing demand for the company’s products. In Brazil Vicat has completed the purchase of a 64.74 per cent interest in Cimento Planalto, which operates a 3.2Mta cement works near Brasilia, nine ready-mixed concrete plants and five sites for extracting aggregates. |