{"id":566422,"date":"2021-06-17T13:48:18","date_gmt":"2021-06-17T13:48:18","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/17\/sinai-cement-widens-losses-gsks-egypt-arm-announces-coupon-payments\/"},"modified":"2021-06-17T13:48:18","modified_gmt":"2021-06-17T13:48:18","slug":"sinai-cement-widens-losses-gsks-egypt-arm-announces-coupon-payments","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/17\/sinai-cement-widens-losses-gsks-egypt-arm-announces-coupon-payments\/","title":{"rendered":"Sinai Cement widens losses + GSK\u2019s Egypt arm announces coupon payments"},"content":{"rendered":"<p><strong>EARNINGS WATCH- Sinai Cement saw its net losses widen to EGP <\/strong><strong>148 <\/strong><strong>mn in 1Q2021, <\/strong>up from EGP 106 mn in 1Q2020, according to its <a href=\"https:\/\/ent.news\/2021\/6\/31-March-2021-Sinai-Cement-earnings.pdf\">quarterly financials (pdf)<\/a>. This came despite revenues rising 34% to over EGP 283 mn. Egypt\u2019s cement industry is suffering from a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/39d31e43-71a2-42f2-b1b9-83f54471294c\">drawn-out supply glut<\/a> that continues to drive producers into the red.<\/p>\n<p><strong>MARKET NEWS- GlaxoSmithKline\u2019s local arm has announced <\/strong><strong>coupon payments<\/strong><sup><\/sup><strong> of EGP <\/strong><strong>0.50 per share<\/strong> for FY2020 returns, it said in a <a href=\"https:\/\/ent.news\/2021\/6\/GSK-shareholders-17-06-2021.pdf\">filing to the EGX (pdf)<\/a>. Payouts come due on Wednesday, 7 July.<\/p>\n<p><strong>MARKET ROUNDUP-<\/strong><\/p>\n<p><strong>The EGX30 fell 0.2% at today\u2019s close<\/strong> on turnover of EGP 1.40 bn (9.1% above the 90-day average). Foreign investors were net sellers. The index is down 9.0% YTD.<\/p>\n<p><strong>In the green: <\/strong>Ezz Steel (+6.0%), Cleopatra Hospital (+4.5%), and AMOC (+3.1).<\/p>\n<p><strong>In the red: <\/strong>GB Auto (-1.8%), Heliopolis Housing (-1.7%) and Pioneers Holding (-1.7%).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>EARNINGS WATCH- Sinai Cement saw its net losses widen to EGP 148 mn in 1Q2021, up from EGP 106 mn in 1Q2020, according to its quarterly financials (pdf). This came despite revenues rising 34% to over EGP 283 mn. Egypt\u2019s cement industry is suffering from a drawn-out supply glut that continues to drive producers into [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7219],"tags":[130,409,633,1076,642,131,427,1420],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-566422","post","type-post","status-publish","format-standard","hentry","category-go-with-the-flow","tag-construction","tag-earnings-watch","tag-enterprisepm","tag-glaxosmithkline","tag-go-with-the-flow","tag-manufacturing","tag-pharma","tag-sinai-cement","wpautop","entry"],"acf":{"mongo_id":"f079557e-fa85-419c-b664-e82e07038822","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[566411],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Sinai Cement widens losses + GSK\u2019s Egypt arm announces coupon payments - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/17\/sinai-cement-widens-losses-gsks-egypt-arm-announces-coupon-payments\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sinai Cement widens losses + GSK\u2019s Egypt arm announces coupon payments\" \/>\n<meta property=\"og:description\" content=\"EARNINGS WATCH- Sinai Cement saw its net losses widen to EGP 148 mn in 1Q2021, up from EGP 106 mn in 1Q2020, according to its quarterly financials (pdf). This came despite revenues rising 34% to over EGP 283 mn. Egypt\u2019s cement industry is suffering from a drawn-out supply glut that continues to drive producers into [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/17\/sinai-cement-widens-losses-gsks-egypt-arm-announces-coupon-payments\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-06-17T13:48:18+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/17\/sinai-cement-widens-losses-gsks-egypt-arm-announces-coupon-payments\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/17\/sinai-cement-widens-losses-gsks-egypt-arm-announces-coupon-payments\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Sinai Cement widens losses + GSK\u2019s Egypt arm announces coupon payments\",\"datePublished\":\"2021-06-17T13:48:18+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/17\/sinai-cement-widens-losses-gsks-egypt-arm-announces-coupon-payments\/\"},\"wordCount\":147,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"construction\",\"earnings watch\",\"EnterprisePM\",\"GlaxoSmithKline\",\"Go with the Flow\",\"Manufacturing\",\"pharma\",\"Sinai Cement\"],\"articleSection\":[\"GO WITH THE FLOW\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/17\/sinai-cement-widens-losses-gsks-egypt-arm-announces-coupon-payments\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/17\/sinai-cement-widens-losses-gsks-egypt-arm-announces-coupon-payments\/\",\"name\":\"Sinai Cement widens losses + GSK\u2019s Egypt arm announces coupon payments - 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The company\u2019s total sales for the year rose 62.3% y-o-y to EGP 2.3 bn.MARKET ROUNDUP-The EGX30 rose 0.9% at today\u2019s close on turnover\u2026","rel":"","context":"In &quot;GO WITH THE FLOW&quot;","block_context":{"text":"GO WITH THE FLOW","link":"https:\/\/enterpriseam.com\/egypt\/category\/go-with-the-flow\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":598651,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/30\/earnings-watch-sinai-cement-reports-egp-78-3-mn-net-loss-in-1q19\/","url_meta":{"origin":566422,"position":1},"title":"EARNINGS WATCH- Sinai Cement reports EGP 78.3 mn net loss in 1Q19","author":"enterpriseam admin","date":"30 May 2019","format":false,"excerpt":"EARNINGS WATCH- Sinai Cement reported a net loss of EGP 78.3 mn in 1Q2019, down 7% y-o-y from EGP 84.3 mn in 1Q2018, the company said in its earnings release (pdf). Revenues for the quarter grew 38% y-o-y to EGP 201.1 mn from EGP 148 mn in 2018.","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":565321,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/01\/earnings-watch-arabia-investments-holding-sinai-cement\/","url_meta":{"origin":566422,"position":2},"title":"Earnings Watch: Arabia Investments Holding, Sinai Cement","author":"enterpriseam admin","date":"1 April 2021","format":false,"excerpt":"The EGX30 ended today\u2019s session flat on turnover of EGP 1.0 bn (30.8% below the 90-day average). Local investors were net buyers. The index is down 2.6% YTD.In the green: Heliopolis Housing (+7.7%), Cleopatra Hospital (+4.1%) and Orascom Financial (+3.2%).In the red: Abu Qir Fertilizers (-2.1%), CI Capital (-1.5%) and\u2026","rel":"","context":"In &quot;GO WITH THE FLOW&quot;","block_context":{"text":"GO WITH THE FLOW","link":"https:\/\/enterpriseam.com\/egypt\/category\/go-with-the-flow\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":544345,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/28\/earnings-watch-prime-holding-efic-arabian-cement\/","url_meta":{"origin":566422,"position":3},"title":"Earnings watch: Prime Holding, EFIC, Arabian Cement","author":"enterpriseam admin","date":"28 February 2022","format":false,"excerpt":"EARNINGS WATCH- Prime Holdings widened its losses 132% y-o-y, achieving net losses of EGP 56.6 mn in 2021, compared to EGP 24.5 mn in 2020, according to a financial statement (pdf). The company\u2019s revenues rose to EGP 100.4 mn in 2021, up 27.4% y-o-y.Arabian Cement returned to the black in\u2026","rel":"","context":"In &quot;GO WITH THE FLOW&quot;","block_context":{"text":"GO WITH THE FLOW","link":"https:\/\/enterpriseam.com\/egypt\/category\/go-with-the-flow\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":595964,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/15\/earnings-watch-raya-holding-domty-suez-cement-tourah-cement\/","url_meta":{"origin":566422,"position":4},"title":"Earnings watch: Raya Holding, Domty, Suez Cement, Tourah Cement","author":"enterpriseam admin","date":"15 August 2019","format":false,"excerpt":"EARNINGS WATCH: Domty 2Q2019 net profits fall 35% y-o-y: Arabian Food Industries (Domty) reported 2Q2019 net income of EGP 37.5 mn, compared to EGP 57.7 mn a year earlier, the company said in a bourse filing (pdf). Revenues came in at EGP 646.8 mn, compared to EGP 693.4 mn during\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":551042,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/22\/earnings-watch-arabian-cement\/","url_meta":{"origin":566422,"position":5},"title":"Earnings watch: Arabian Cement","author":"enterpriseam admin","date":"22 May 2022","format":false,"excerpt":"EARNINGS WATCH- Arabian Cement returned to the black in 1Q2022, with its bottom line recording EGP 58.85 mn during the quarter compared to net losses of EGP 6.33 mn in 1Q2021, according to the company\u2019s financials (pdf). The company\u2019s sales rose 145% y-o-y to EGP 1.06 bn in 1Q2022.MARKET ROUNDUP-The\u2026","rel":"","context":"In &quot;GO WITH THE FLOW&quot;","block_context":{"text":"GO WITH THE FLOW","link":"https:\/\/enterpriseam.com\/egypt\/category\/go-with-the-flow\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/566422","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=566422"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/566422\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/566411"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=566422"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=566422"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=566422"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=566422"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=566422"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}