Cairo - Mubasher: Ezz Steel turned to net profits of EGP 2.39 billion in the first half (H1) of 2021, versus net losses of EGP 2.77 billion in H1-20, including minority shareholders' rights. 

The sales surged to EGP 30.42 billion in the six-month period ended 30 June, compared to EGP 17.82 billion in the corresponding period in 2020, the company said in a bourse disclosure on Monday. 

As for standalone business, the company achieved net profits of EGP 156.23 million in H1-21, against net losses of EGP 467.54 million in H1-20. 

During the first quarter (Q1) of 2021, the steel manufacturer achieved net profits of EGP 1.187 billion, compared to net losses of EGP 1.35 billion in Q1-20.