Cairo – Mubasher: Al Ezz Dekheila Steel – Alexandria announced turning to losses during the first nine months of 2019.

The company suffered net losses of EGP 2.25 billion in the January-September period, against net profits of EGP 996.55 million in the prior-year period, including minority shareholders’ rights, according to a bourse disclosure on Tuesday.

In the meantime, sales fell to EGP 29.75 billion in the nine-month period ended 30 September from EGP 30.9 billion in the corresponding period of 2018.

As for standalone business, the company suffered net losses of EGP 462 million during the first nine months of the year, versus net profits of EGP 2.27 billion in the same period of 2018.

It is noteworthy that during the first half of 2019, Al Ezz Dekheila Steel swung to net losses of EGP 1.258 billion, against net profits of EGP 902.963 million in H1-18.