Cairo – Mubasher: Misr National Steel (Ataqa) on Tuesday reported a 103% year-on-year surge in profits for the first nine months of 2018.

The company logged EGP 187.3 million in profits during the January-September period of this year, versus EGP 92.3 million in the year-ago period, according to a filing to the Egyptian Exchange (EGX).

Revenues increased slightly to EGP 2.9 billion at the end of September from EGP 2.6 billion in the corresponding period of 2017.

Ataqa previously posted a 92% year-on-year rise in profits for the first quarter of the year, recording a net profit of EGP 87.4 million, versus EGP 45.45 million in Q1-17.