Ezz Steel Company explained in a statement to the Egyptian Stock Exchange that it achieved losses amounting to 716.530 million pounds during 2023, compared to profits amounting to 6.647 billion pounds during the comparative period of 2022, affected by its losses from currency differences amounting to 30.9 billion pounds. According to the company’s disclosure, taking into account minority rights.

The company’s sales rose last year to 142.913 billion pounds, compared to sales amounting to 83.984 billion pounds in 2022.

At the level of unconsolidated business, the independent company’s profits declined to 1 billion pounds in 2023, compared to profits amounting to 1.056 billion pounds in 2022.

At the beginning of March, the Central Bank of Egypt allowed the exchange rate of the Egyptian pound against the dollar to fall to 49.45 pounds to the dollar, before the pound rose again at slight rates during the following days to reach about 48.5 pounds to the dollar. .