Arab Finance: A company announced Sina Cement (Scem)On the success of its ambitious strategy in developing financial and commercial performance, achieving remarkable growth in various indicators, as the results of its business during the year 2024 showed a net profit of 3.077 billion pounds, compared to a net loss of 121.419 million pounds during the year 2023, and the company also achieved an independent net profit of about 3.072 billion pounds during 2024.
These results reflect the company's firm commitment to quality, sustainability, and innovation in a way that contributes to supporting the Egyptian economy by providing the needs of the local market from this important strategic commodity.
On the sidelines of the celebration of the new visual identity of the company and a comment on these distinguished results, Petro Kalla, Managing Director of the Sinai Cement Company, said: “The launch of the new institutional identity of the company is in line with our modern strategy, which is based on two main axes: improving production efficiency, focusing on the technical details of the factory. In addition, we are greatly investing in advanced technology and developing the skills of the work team, In order to have qualified and trained cadres with the highest standards, capable of keeping pace with the rapid developments in the cement industry, and the effective contribution to achieving our strategic goals.
He added: “Thanks to our commitment to applying our new strategy, we have been able to achieve a full transformation to profitability. From this standpoint, we look forward to competition in international markets during the coming period, while maintaining the efficiency and quality of our products, meeting the needs of the markets, and building strong relationships that enhance the status of the Sinai Cement Company.”
For his part, Tamer Magdy, Chairman of the Sinai Cement Company, said: “The cement industry is one of the most important strategic industries in Egypt, and in Sinai Cement we are committed to supporting the local economy by participating in major development projects and we are proud of our contribution to strengthening Egyptian exports from this industry, where we succeeded in reaching 15% of Egypt’s exports of cement, and added,“ We believe that workers are the basis of our real investment and locomotive Our success, therefore, the change of our strategic identity comes as a continuation of the march of growth and success in the company, during which we were able to convert all indicators and numbers from negative into a surplus in profits and promising positive results.
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