South Valley Cement reports nearly $6.8mln losses in 2022

South Valley Cement Company witnessed an annual decline in net losses to EGP 208.74 million in 2022, compared to EGP 225.45 million.

The EGX-listed firm reported sales worth EGP 873.73 million last year, higher than EGP 284.62 billion in 2021, according to the income statements.

Loss per share stood at EGP 0.43 as of 31 December 2022, versus EGP 0.47 a year earlier.

Meanwhile, the total assets amounted to EGP 1.09 billion in 2022, down from EGP 1.22 billion during the January-December 2021 period.

In the first nine months (9M) of 2022, South Valley Cement incurred net losses worth EGP 83.81 million, lower by 41.47% year-on-year (YoY) than EGP 143.20 million.