Cairo – Mubasher: The unaudited financial results of Al Ezz Dekheila Steel – Alexandria reported a 164% year-on-year (YoY) increase in its net losses to EGP 280 million in the first quarter of 2020 from EGP 106 million.

Over the January-March period, sales grew to EGP 8.03 billion from EGP 7.92 billion in the same period a year earlier, the company said in a statement to the Egyptian Exchange (EGX) on Sunday.

For the full-year 2019, the steel manufacturer incurred net losses of EGP 4.64 billion, against net profits of EGP 647.35 million in 2018.