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Egypt : Profits of iron and steel for mines triple in 9 months

The financial indicators of the Iron and Steel Company for Mines and Quarries showed an increase in profits by 325% during the first nine months of the current fiscal year.

The company said in a statement to the Egyptian Stock Exchange today that it recorded profits after taxes amounting to 97.76 million EGP from July to last March, compared to 22.97 million EGP in the comparative period.

The company recorded revenues of 217.5 million EGP from July to the end of last March, compared to 82.78 million EGP in the comparative period.

It is worth noting that iron and steel 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 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.

 

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