Suez Cement sees 27% fall in revenue

Egypt’s Suez Cement has posted an EGP389.65m (US$24.07m) net loss in its consolidated results for the 1Q20, compared to an EGP213.07m profit in the first quarter of 2019. The company’s revenue also fell 26.5 per cent YoY to EGP1.33bn from EGP1.81bn.

Suez Cement’s standalone results saw its net loss widen to EGP193.84m in the January-March 2020 period, against EGP95.16m in the 1Q19.