Cairo – Mubasher: Misr National Steel (Ataqa) on Tuesday reported a 124.8% year-on-year hike in profits for the first half of 2018.

The company generated a net profit of EGP 153.08 million in the six-month period ended June, versus EGP 68.08 million in the prior-year period, according to a filing to the Egyptian Exchange (EGX).

Revenues rose by 24.9% to EGP 2.17 billion at the end of June, compared to EGP 1.73 billion in H1-17.

It is worth noting that Ataqa logged EGP 87.4 million in the first quarter of this year, versus a profit of EGP 45.45 million in Q1-17.