Egyptian National Cement incurs $13m-losses by end-June

Egypt’s National Cement Company (NCC) incurred net losses of 119.9 million Egyptian pounds (US$13.5 million) during fiscal year 2015-16 versus 282.5 million pounds a year earlier.

The general assembly of the company convened Tuesday to endorse  its financial results for financial year 2015-16.

Chairman of NCC, Saeed Abdel Moty stated that the company attained revenues estimated at 858.8 million pounds in FY 2015-16 opposed to 756.5 million pounds a year earlier.

He added that NCC has recently invested around one billion pounds in its environmental improvement project as well as changing filters used in production process.