Economy & Market
Sinai Cement reports falling profit
Egypt´s Sinai Cement Company reported a decline in total profit in 1H15 to EGP33.54 million, down from EGP88.12 million in 1H14. Net profit was EGP118.9 million down from EGP311.9 million in 1H14. Sinai Cement owns a cement plant in North Sinai. Many Egyptian cement companies have reported operating difficulties due to the high price and low availability of gas, which was traditionally used as fuel in Egypt´s cement industry.