The consolidated financial statements of Ezz Steel showed a 52% annual increase in net profits at EGP 5.70 billion, from EGP 3.75 billion, including minority shareholders’ rights.

Basic earnings per share (EPS) reached EGP 6.91 in January-September 2022, compared to EGP 4.65 in the same period in the previous year, according to a bourse filing on Thursday.

Sales of the steel manufacturer amounted to EGP 60.64 billion during the nine-month period ended 30 September 2022, a surge from EGP 49.05 billion in the year-ago period.

In the meantime, the company reported higher standalone profits at EGP 1.03 billion in 9M-22, compared to EGP 236.23 million in 9M-21.

During the first half (H1) of 2022, the EGX-listed firm generated EGP 4.13 billion in its consolidated profits, a surge of 72.30% when compared to EGP 2.39 billion in H1-21, including minority shareholders’ rights.

Further, the standalone profits skyrocketed to EGP 806.45 million during the January-June period in 2022, compared to EGP 156.23 million in the year-ago period.

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