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Hadisolb’s sales drop 14% in 10M

Hadisolb’s sales drop 14% in 10M
Total local sales and exports retreated to EGP 918.67 million
Egyptian Iron & Steel
IRON
-4.26% 16.65 -0.74

Cairo – Mubasher: Egyptian Iron and Steel’s (Hadisolb) board of directors announced that the company’s local sales and exports declined by 14.1% year-on-year during the first ten months of fiscal year 2018/2019.

Hadisolb’s total local sales and exports retreated to EGP 918.67 million from July 2018 to last April, compared to EGP 1.07 billion in the year-ago period, according to a statement to the Egyptian Exchange (EGX) on Sunday.

The Egyptian firm’s revenues registered EGP 1.18 billion during the first 11 months of FY18/19.

Over the period of the first ten months of FY18/19, the EGX-listed firm’s revenues reached EGP 1.07 billion.

The company suffered losses of EGP 531.28 million from July 2018 to last March, compared to EGP 456.62 million in the same period a year earlier.

The company generated EGP 928.04 million in revenues in the nine-month period ended 31 March from EGP 1.25 billion in the same period a year earlier.