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Al Ezz Dekheila Steel profit hikes 62% in 9M

Al Ezz Dekheila Steel profit hikes 62% in 9M
Net profit amounted to EGP 2.27 billion in the nine-month period ended September
Al Ezz Dekheila Steel
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Cairo – Mubasher: Al Ezz Dekheila Steel – Alexandria on Sunday posted it a 62.2% year-on-year surge in profits for the first nine months of 2018.

Net profit amounted to EGP 2.27 billion in the nine-month period ended September, compared to EGP 1.4 billion the year-ago period, the company said in a filing to the Egyptian Exchange (EGX).

Sales grew to EGP 28.19 billion at the end of September, versus EGP 20.49 billion in the corresponding nine-month period of 2017.

It is noteworthy that the Egyptian steel manufacturer logged EGP 902.9 million in consolidated profits in the six-month period ended June, against a net loss of EGP 78.9 million the prior-year period.