Ezz Steel Company said that establishing a factory to produce steel plates is still in the study stage.
The company confirmed, in a statement in response to the stock exchange’s inquiries regarding what was published under the title “Ezz Steel obtains a license in preparation for launching a new panel factory,” that construction work has not yet begun.
It is noteworthy that Ezz Steel achieved losses amounting to 716.530 million pounds during 2023, compared to profits amounting to 6.647 billion pounds in the comparative period of 2022, taking into account minority rights.
The company’s sales increased 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.
