Sinai Cement narrows 1Q loss

Egypt-based Sinai Cement Co, part of Vicat, saw consolidated net losses after tax of EGP58.47m (US$1.89m) in the first quarter of 2023, compared with losses of EGP67.19m in the 1Q22.

The company’s sales reached EGP1240m in the 1Q23, representing a 160.7 per cent increase on EGP475.57m in the year-ago period.