Cairo – Mubasher: Egyptian Iron and Steel’s (Hadisolb) financial indicators showed a 38% year-on-year increase in its losses during fiscal year 2018/2019.

Hadisolb suffered net losses of EGP 1.24 billion from July 2018 to last June, compared to EGP 899.6 million in FY17/18, according to a statement to the Egyptian Exchange (EGX) on Thursday.

Meanwhile, sales fell to EGP 1.24 billion in FY18/19 from EGP 1.61 billion in FY17/18.

During the first nine months of FY18/19, Hadisolb’s net losses reached EGP 531.28 million, compared to EGP 456.62 million in the corresponding period a year earlier.