|06 September, 2018

Ezz Steel logs $8mln profits in H1

The EGX-listed firm previously posted turning to profitability for the first quarter of this year

Cairo: Ezz Steel, Egypt's largest steelmaker, on Thursday reported it has turned profitable for the first half of 2018 on the back of a growth in 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.

Source: Mubasher

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