Sinai Cement (SCEM) achieved a remarkable financial rebound in the first half of 2024, reporting consolidated net profits of EGP 651.36 million, a stark contrast to net losses of EGP 79.72 million in H1-23. Net sales surged to EGP 2.68 billion, up from EGP 2.36 billion a year earlier, driving earnings per share (EPS) to EGP 4.89 versus a loss of EGP 0.60 in the prior period. On a standalone basis, the company also flipped to a profit of EGP 658.62 million in H1-24, compared to losses of EGP 72.79 million in H1-23. However, standalone net sales dipped to EGP 1.51 billion from EGP 2.36 billion. For Q1-24, consolidated net profits reached EGP 301.11 million.