Ezz Steel logs EGP 143.7m profit in H1

Cairo – Mubasher: Ezz Steel, Egypt's largest steelmaker, on Thursday reported it has turned profitable for the first half of 2018, helped by higher sales.

Consolidated profits amounted to EGP 143.7 million in H1-18, against a loss of EGP 970.2 million in the prior-year period, the company said in a statement to the Egyptian Exchange (EGX).

Sales rose to EGP 25.5 billion in the six-month period ended June, versus EGP 17.5 billion in the comparative period of 2017.

The EGX-listed firm previously posted turning to profitability for the first quarter of this year with EGP 184.27 million in net profit, against a loss of EGP 492.8 million in Q1-17.

Mubasher Contribution Time: 06-Sep-2018 09:01 (GMT)
Mubasher Last Update Time: 06-Sep-2018 12:25 (GMT)