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Egyptian Iron and Steel’s loss down 35% in FY19/20 modified results

The modified unaudited financial results of the Egyptian Iron and Steel showed net losses of EGP 982.83 million during fiscal year 2019/2020, down by 35% year-on-year (YoY) from EGP 1.52 billion.

Sales slumped to EGP 1.08 billion in the year ended 30 June from EGP 1.24 billion in FY18/19, the company said in a statement to the Egyptian Exchange (EGX) on Wednesday.

During the first nine months of FY19/20, the company reported net losses of EGP 783.847 million, up from EGP 531.28 million in the year-ago period.

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About AISU

Arab Iron and Steel Union ( AISU ) was established in Algeria in 1971 as the first Arab union of Arab countries to be established under the umbrella of the Council of Economic Unity in the League of Arab States.

AISU is a non-governmental organization of a private nature, not of a political or commercial nature.

AISU works in the field of preparing studies, organizing courses and holding periodic conferences for the prosperity of the Arab iron and steel industry. The union includes a wide range of companies with multiple activities related to the iron and steel industry.

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92 Members

28 Board of Directors

17 Country

300.000 Employees

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