Suez Cement consolidated losses increase in 1H20

Egypt-based Suez Cement sales decreased to EGP2.7bn (US$170.9m) during the January-June 2020 period, down from EGP3.3bn in the 1H19.

The company’s consolidated financial statements also showed a 99 per cent YoY increase in its net losses to EGP-709.31m in the 1H20, compared to EGP-356.49m. Standalone losses amounted to EGP-463.3m from EGP590.5m in the year-ago period.