Cairo – Mubasher: Ezz Steel’s consolidated losses for the first quarter of fiscal year 2017 deepened by 109.4% to EGP 492.9 million, compared to EGP 235.6 million for Q1-16.

Sales increased in Q1-17 to EGP 8.1 billion from EGP 4.9 billion in Q1-16, while the cost of sale rose to EGP 7.57 billion from EGP 4.47 billion, a bourse filing said on Tuesday.

General and administrative expenses reached EGP 208.9 million in Q1-17, versus EGP 151.9 million in Q1-16.

Standalone losses amounted to EGP 240.7 million in Q1-17, 177% up from EGP 86.8 million for Q1-16.