Cairo – Mubasher: Al Ezz Dekheila Steel – Alexandria on Wednesday posted it has turned to profitability during the first half of 2018, as compared with the corresponding period last year.
The Egyptian steel manufacturer logged EGP 902.9 million in consolidated profits in the six-month period ended June, against a net loss of EGP 78.9 million the prior-year period, the company said in a filing to the Egyptian Exchange (EGX).
Sales grew to EGP 21.2 billion at the end of June, versus EGP 14.49 billion in H1-17.
As for the standalone business, the company generated EGP 1.6 billion in profits, compared to EGP 716.9 million in H1-17.
Al Ezz Dekheila previously reported turning profitable in the first quarter of 2018 due to higher sales.
Consolidated profits surged to EGP 431.7 million during the three-month period ended last March, versus EGP 68.8 million in Q1-17.