Ezz Steel
ESRS
ESRS
Naeem Research issued a report on the EL Ezz Aldekhela Steel, mentioning that the company's financial performance for Q4 -2013 came against its expectations.
The research company was expecting EZDK ,the largest and most profitable subsidiary of El Ezz steel (ESRS), to see sequential improvement in financial performance, but the company's 4Q13 performance indicated that weakness have persisted during the quarter.
Hence, Naeem expects this weakness to be also reflected in ESRS's yet-to-be released Q4-2013 results.
Naeem said it should be recollected that ESRS posted a Q3-2013 loss of EGP 84 million, led by lower volumes and prices, accordingly, with no real indication of a surge in QoQ volumes and with prices having remained flat, 4Q13 should be another weak quarter for ezzsteel.
The research company was expecting EZDK ,the largest and most profitable subsidiary of El Ezz steel (ESRS), to see sequential improvement in financial performance, but the company's 4Q13 performance indicated that weakness have persisted during the quarter.
Hence, Naeem expects this weakness to be also reflected in ESRS's yet-to-be released Q4-2013 results.
Naeem said it should be recollected that ESRS posted a Q3-2013 loss of EGP 84 million, led by lower volumes and prices, accordingly, with no real indication of a surge in QoQ volumes and with prices having remained flat, 4Q13 should be another weak quarter for ezzsteel.
Source:
Mubasher
