The Ordinary General Assembly of the Iron and Steel Company for Mines and Quarries affiliated to the Holding Company for Metallurgical Industries, one of the companies of the Ministry of Public Business Sector, announced the approval of its estimated budget for the next fiscal year 2023-2024.
The Iron and Steel Company for Mines and Quarries added that it aims to achieve a net profit of 145.4 million EGP during the next fiscal year.
The general assembly of the Iron and Steel Company for Mines and Quarries approved the draft investment budget for the next fiscal year, amounting to 91.85 million EGP, with self-financing.
It is worth mentioning that the Iron and Steel Company for Mines and Quarries recorded a net profit of 69.5 million EGP from July to the end of December 2022, compared to 17.01 million EGP in earnings during the comparative period of 2021.
The company’s revenues increased during the three months to 152.6 million EGP, compared to 55.7 million EGP during the same period in 2021.
