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Egypt: Iron and steel mine profits rise to more than EGP 113 million within 9 months

The financial indicators of the Iron and Steel Company for Mines and Quarries showed the first 9 months of the current fiscal year. The company’s profits increased by 16%, on an annual basis.

The company explained in a statement to the Egyptian Stock Exchange. It recorded profits after taxes amounting to EGP 113.255 million in the period from July until the end of March 2024, compared to EGP 97.76 million in the comparative period.

The company recorded revenues worth EGP 252.579 million in the period from July until the end of last March, compared to EGP 217.5 million in the comparative period of the previous fiscal year.

It is noteworthy that Iron and Steel for Mines and Quarries recorded a net profit of EGP  73.77 million in the period from July until the end of December 2023, compared to EGP 69.5 million in profits in the comparative period of 2022.

The company’s revenues increased in the first half of the current fiscal year to EGP 166.61 million. Compared to EGP 152.6 million in the same period in 2022.

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