State-run Alexandria Portland Cement turns into losses in H1-2017

Big 5

Egypt’s state-run Alexandria Portland Cement Company turned into losses, recording 192.61 million Egyptian pounds ($10.8 million) during the first six months ended June 2017, compared with 90.74 million during the same period in 2016.

The company’s reported Sunday a 112 percent increase in its profits during the first half of 2017.

Consolidated sales jumped to 1.4 billion pounds, compared to 1.14 billion pounds.

Meanwhile, standalone losses also rose by 20 percent to 164.7 million pounds from  137.6 million.

Losses fell to 30 million pounds during the three months ended in March 2017, versus 107 million in the same period in 2016. Source: Mubasher