Ataqa’s profit shrinks 92% in 2019

The company’s sales plunged


Cairo – Mubasher: Misr National Steel (Ataqa) reported a 92% year-on-year drop in its net profits during 2019.

The company’s net profits dwindled to EGP 13.8 million last year from EGP 174.91 million in 2018, according to a statement to the Egyptian Exchange (EGX) on Sunday.

Meanwhile, the company’s sales plunged to EGP 2.23 billion in 2019, compared to EGP 3.8 billion in the previous year.

It is worth mentioning that during the first nine months of 2019, Ataqa’s net profits slumped to EGP 53.16 million from EGP 187.33 million in the year-ago period.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2020 Provided by SyndiGate Media Inc. (

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From North Africa