Cairo – Mubasher: The modified unaudited financial results of the Egyptian Iron and Steel (Hadisolb) recorded a 62.89% year-on-year rise in its losses during fiscal year 2018/2019.
The company incurred net losses of EGP 1.465 billion in the twelve-month period ended 30 June, compared to EGP 899.61 million in FY17/18, according to a filing to the Egyptian Exchange (EGX) on Monday.
Meanwhile, revenues fell to EGP 1.24 billion in FY18/19 from EGP 1.62 billion in the prior fiscal year.
It is noteworthy that during the first two months of FY19/20, the Egyptian firm generated EGP 187.86 million in revenues.
Source: Mubasher
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