Cairo – Mubasher: South Valley Cement Company suffered net losses after tax valued at EGP 76.24 million in the first half (H1) of 2023, marking a plunge from EGP 117.08 million a year earlier.
Meanwhile, the sales jumped to EGP 464 million in the January-June 2023 period from EGP 326.11 million in H1-22, according to the income statements.
Loss per share reached EGP 0.16 in H1-23, compared to EGP 0.24 during the same period a year earlier.
Total assets hit EGP 3.99 billion as of 30 June 2023, versus EGP 4 billion as of 31 December 2022.
Financial Results for Q2-23
In the second quarter (Q2) of 2023, the net losses after tax of South Valley Cement amounted to EGP 39.18 million, down year-on-year (YoY) from EGP 85.87 million.
Sales widened to EGP 125.68 million in Q2-23 from EGP 119.78 million in Q2-22, while the loss per share retreated to 0.08 from EGP 0.18.
During the three-month period that ended on 31 March 2023, the EGX-listed company posted higher net losses after tax at EGP 37.05 million, compared to EGP 31.20 million in Q1-22.
