Sinai Cement records improvement in 2018

Egypt’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.