Cairo – Mubasher: The Egyptian Iron and Steel (Hadisolb) achieved EGP 619.05 million in activity revenues during the first seven months of fiscal year 2020/2021.

Local sales and exports amounted to EGP 107 million during December 2020, the company said in a bourse disclosure on Sunday.

The board of directors decided to authorise the managing director to sign an agreement with the Egyptian Chemical Industries (Kima).

During the first half (H1) of FY20/21, Hadisolb suffered net losses of EGP 437.05 million, down from EGP 478.18 million in the prior-year period.

The steel manufacturer’s revenues fell to EGP 555.28 million in the July-December period of 2020, compared to EGP 583.25 million in the corresponding period a year earlier.