ESRS
Cairo – Mubasher: The consolidated financial statements of Ezz Steel showed net losses of EGP 4.11 billion in the first nine months of 2020, down by 4.8% from EGP 4.321 billion in the year-ago period, including minority shareholders’ rights.
The company’s net sales declined to EGP 26.45 billion in the January-September period, compared to EGP 35.25 billion in the corresponding period a year earlier, according to a bourse disclosure on Tuesday.
As for standalone business, the steel manufacturer incurred net losses of EGP 634.15 million in the nine-month period ended 30 September, compared to EGP 847.96 million in the prior-year period.
During the first half (H1) of 2020, Ezz Steel suffered net losses of EGP 2.77 billion, up from EGP 2.46 billion in H1-19, including minority shareholders’ rights.