Cairo – Mubasher: Alexandria Portland Cement reported net losses of EGP 212.75 million in the first half (H1) of 2020, up by 26% year-on-year (YoY) from EGP 168.99 million, the company’s unaudited consolidated financial results showed.
The cement producer’s sales declined to EGP 1.012 billion in the January-June period, compared to EGP 1.13 billion in the corresponding period a year earlier, according to a bourse disclosure on Tuesday.
The standalone financial indicators posted net losses of EGP 150.84 million in H1-20, up from EGP 115.8 million in H1-19.
It is noteworthy to mention that during the first quarter of 2020, the company suffered net losses of EGP 35.82 million in the January-March period, compared to EGP 77.58 million in the year-ago period.
