The consolidated net losses after tax of Sinai Cement declined to EGP 58.47 million in the first quarter (Q1) of 2023 from EGP 67.19 million in Q1-22, including minority interest. Loss per share amounted to EGP 0.44 in Q1-23, lower than EGP 0.50 in the year-ago period, according to the income statements. The sales reached EGP 1.24 billion during the first three months (3M) of 2023, up year-on-year (YoY) from EGP 475.57 million. Standalone Financial ResultsThe EGX-listed firm posted an annual drop in standalone net losses after tax to EGP 56.29 million during January-March 2023 from EGP 66.25 million. Last year, the company's consolidated net losses after tax reached EGP 330.41 million, down from EGP 354.03 million in 2021, including minority shareholders’ rights.

Source: The North Africa Journal May 28, 2023 09:00 UTC