Cairo - Mubasher: The consolidated net losses of Arabian Cement Co widened by 313% to EGP 23.28 million in the first half (H1) of 2021, compared to EGP 5.63 million in H1-20, including minority shareholders' rights.
The cement producer's sales declined to EGP 964.8 million in the January-June period from EGP 1.32 billion in the prior-year period, according to a bourse disclosure on Wednesday.
As for standalone business, the company incurred net losses of EGP 21.08 million in H1-21, up from EGP 3.78 million in H1-20.
During the first quarter (Q1) of 2021, Arabian Cement Co. turned to net losses of EGP 6.33 million, against net profits of EGP 15.9 million in Q1-20.
