National Cement says EGP 92.4m sale deal valid

Cairo – Mubasher: National Cement said Tuesday that it sold 210,000 cement clinker tonnes at EGP 440 each, totaling EGP 92.4 million.   

The sale was carried out as per valid legal measures and FY16/17 budget estimates, the company added in a bourse filing.

Earlier, news reports indicated that the company mad a loss sale of the previous amount, but the cement producer confirmed that this was the market price at that time.   

 The company said its losses widened by 18.4% in the fiscal year 2015/16 on the increasing provisions that reached EGP 37.2 million.

The cement company logged losses of EGP 97.2 million ($10.9 million) in FY15/16, down from EGP 119.2 million ($13.4 million) for the previous year

Mubasher Contribution Time: 08-Nov-2016 10:57 (GMT)
Mubasher Last Update Time: 08-Nov-2016 10:57 (GMT)