Ezz Steel (ESRS) registered an EGP 643.286 million in consolidated net losses attributable to the parent company during the first half (H1) of 2023, versus an EGP 2.6 billion in net profits during the January-June period, according to the financial statement filed to the Egyptian Exchange (EGX) on October 18th.
Consolidated net sales rose to EGP 62.261 billion in H1 2023, compared to EGP 38.496 billion during the first six months of 2022.
At the level of the standalone financial statement, the company incurred a net loss after tax amounting to EGP 38.353 million in the six-month period ended June 30th, versus a net profit of EGP 806.455 million in the same period a year earlier.
Ezz Steel is an Egypt-based manufacturer and trader of steel and related products. Together with its subsidiaries, the company is engaged in the manufacture, trade, and distribution of iron and steel products of all kinds and associated services.
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