Cement News tagged under: Sinai Cement
Vicat Egypt to invest in Sinai Cement16 January 2019, Published under Cement NewsVicat Egypt is expected to invest up to EUR30m in Sinai Cement Co to meet the demand of the local and regional market. Tamer Magdy, CEO, Vicat Egypt, made the announcement during an event celebrating the 15th anniversary of the company’s presence in the Egyptian market. Vicat acquired Sinai Cement, based near El Arish, in 2003. The Egyptian economy has the potential to recover as it is moving forward on the back of the country’s policies, according to the CEO of Vicat Group, Guy Sidos. "W... |
Sinai Cement swings into the red07 March 2018, Published under Cement NewsSinai Cement, Egypt, incurred consolidated net losses of EGP352.48m (US$19.99m) in 2017 from a net profit of EGP14.64m in 2016. Its standalone net results showed a net loss of EGP354.74m in 2017, following on from net profits of EGP13.47m the previous year, according to Arab Finance. |
Sinai Cement swings into the red in 9M1714 November 2017, Published under Cement NewsEgypt’s Sinai Cement has reported losses of EGP-253.5m (US$-14.4m) in the first nine months of the year, against profits of EGP21.8m in 9M16, as shown by the company’s independent financial statements. During the nine-month period, sales rose to EGP939.29m, up 1.1 per cent from EGP929.22m in the year-ago period. Sales costs quadrupled to EGP972.2m from EGP235.3m. |
Sinai Cement posts 1H consolidated net loss of EGP153m31 August 2017, Published under Cement NewsSinai Cement incurred consolidated net losses of EGP153.2m (US$8.7m) in 1H17, vs net profits of EGP15.4m in 1H16, the company announced in a statement to the Egyptian stock exchange. The Egyptian cement producer also posted standalone net losses of EGP155.4m in the first six months of 2017, compared with EGP14.8m in the year-ago period. |
Sinai 1Q17 loss widens31 May 2017, Published under Cement NewsSinai Cement reported an increase in losses by 55 per cent YoY during the first quarter of 2017, due to the rise of financing and administrative costs. The company said in a statement to the Egyptian Exchange (EGX) on Monday that losses amounted to EGP57.98m (US$3.2m) in 1Q17 compared to EGP37.28m in 1Q16. During the three-month period that ended 31 March 2017, sales increased to EGP385.6m from EGP292.6m in the same period last year. Total expenses grew 33 per cent to EGP68.5m compar... |
Egypt: Sinai Cement returns to black02 March 2017, Published under Cement NewsFortune took a turn for the better for Sinai Cement in 2016. The company improved its net results significantly as it reported a net profit of EGP13.47m (US$835,183). In 2015, Sinai Cement reported a loss of EGP39.83m. Sinai Cement is owned by France’s Vicat group. The company operates a 3.5Mta cement plant in Sinai. |
Egypt: Sinai Cement reports FY16 EGP14.6m net profit27 February 2017, Published under Cement NewsSinai Cement reported a consolidated net profit of EGP14.6m (US$901,243) for FY16, a significant improvement when compared with the previous year when the company posted a net loss of EGP38.9m. Consolidated net sales were up from EGP975m in FY15 to EGP1.3bn one year later. |
Sinai Cement swings into EGP7.7m 3Q profit30 November 2016, Published under Cement NewsEgypt’s Sinai Cement reported a profit of EGP7.65m in 3Q16 vs a 3Q15 loss of 24.47m. In the first nine months of 2016, the company turned a profit of EGP23.02m (US$426,111), a significantly better result than the previous year when the company reported a loss of EGP53.16m, taking into account minority rights. |
Egypt: Sinai Cement returns to profit30 August 2016, Published under Cement NewsSinai Cement has announced that it earned a net profit of EGP15.4m (US$1.7m) for the first half of 2016, reversing the EGP28.7m losses that it recorded in the same period last year, Mubasher reports. Performance was even more encouraging when considering the second quarter alone. In the period April to June 2016, Sinai’s profits were EGP52.6m as compared to a loss of EGP17.6m in 2015. |
Egypt: Sinai Cement to self-finance coal conversion12 September 2014, Published under Cement NewsEgypt's Sinai Cement (SCEM) said that its planned plant coal conversion worth EGP300m (US$42m) will be fully financed by the firm's cash flows. The company added in a bourse statement on Wednesday that it will not resort to neither loans nor credit facilities to fund the plant's conversion to coal. (Source: EGX & Arab Finance Editor) |