Ezz Dekheila Steel’s loss widens 3.48 billion pounds in 9 months
The consolidated net losses of Ezz Dekheila Steel – Alexandria increased by 54.49% year-on-year (YoY) to EGP 3.48 billion in the first nine months of 2020, compared to EGP 2.25 billion, including minority shareholders’ rights.
Th steel manufacturer’s sales dropped to EGP 22.98 billion in the January-September period from EGP 29.75 billion in the prior-year period, according to a bourse disclosure on Monday.
As for standalone business, the company’s net losses widened to EGP 935.15 million in the nine-month period ended 30 September, compared to EGP 461.67 million in the same period in 2019.
During the first half (H1) of 2020, the company incurred net losses of EGP 2.303 billion, up from EGP 1.25 billion in H1-19, including minority shareholders’ rights.