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Ataqa reports 52% profit decline in Q1

Ataqa reports 52% profit decline in Q1
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Ataqa
ATQA
-2.69% 9.78 -0.27

Cairo-Mubasher: Misr National Steel (Ataqa) posted EGP 8.3 million ($1.1 million) in net earnings during the first three months of 2015, a decline of 52.4% compared with EGP 17.5 million ($2.3 million) in the corresponding period of 2014.

Sales fell from EGP 425.6 million to EGP 399.9 million.

The steel producer operates with EGP 150 million capital, divided into 30 million shares at a par value of EGP 5 each.