Arab Finance: Sinai Cement Company (SCEM) has turned to profits during the first nine months of 2024, according to the financial statements filed to the Egyptian Exchange (EGX) on November 10th.
Consolidated profit attributable to the parent company stood at EGP 2.748 billion in the nine-month period ended September 30th, versus a net loss of EGP 121.450 million in the year-ago period.
Net sales rose to EGP 4.44 billion in the January-September period of 2024 from EGP 3.225 billion in the same period of 2023.
Meanwhile, the company’s standalone net profit after tax hit EGP 2.607 billion in the nine-month period ended September 30th, versus EGP 108.872 million in losses for the corresponding period of 2023.
Sinai Cement is an Egypt-based company that operates in the production of clinker, cement, and other related products, in addition to cement packing bags.