Cairo – Mubasher: The financial indicators of Egyptian Iron and Steel (HADISOLB) have shown a 10.4% year-on-year increase in local sales for the 10-month period ended April 2018.

Local sales amounted to EGP 1.07 billion in the first 10 months of fiscal year 2017/2018, compared to EGP 968.9 million in the prior-year period, the company said in a filing to the Egyptian Exchange (EGX) on Thursday.

On the other hand, the company’s exports shrank to $8.7 million in the July-April period of FY17/18 from $15.3 million in the same period of FY16/17.

It is worth noting that HADISOLB had previously posted a net loss of EGP 456.6 million for the July-March period of FY17/18, versus a loss of EGP 441.7 million in the year-ago period.