Ezz Dekheila Steel turns profitable in Q1, supported by a 28% sales growth
Ezz Dekheila Steel – Alexandria turned profitable during the first quarter of this year, recording a profit of 1.02 billion pounds at the end of last March, compared to 1.08 billion pounds in the first quarter of 2020.
The company’s consolidated financial statements showed an increase of 28.2% in sales to 11.72 billion pounds during the period from the first of January to the end of March, compared to 9.14 billion pounds for the same period last year.
The company’s independent financial statements showed net profits of 771.87 million pounds at the end of the first quarter of this year, compared to losses of 287.9 million pounds for the same period in 2020.
Al-Ezz Dekheila Steel – Alexandria had achieved annual losses of 4.67 billion pounds during 2020, compared to losses of 5.22 billion pounds in 2019, taking into account minority rights.