Egypt's Ezz Steel’s profits surpass over $209mln in H1-22

Cairo – Ezz Steel has generated EGP 4.13 billion in its consolidated profits during the first half (H1) of 2022, a surge of 72.30% when compared to EGP 2.39 billion in H1-21, including minority shareholders’ rights.

Earnings per share stood at EGP 4.88 in H1-22, compared to EGP 2.97 in H1-21, according to a bourse filing on Sunday.

Sales during the six-month period ended 30 June 2022 increased to EGP 38.49 billion, compared with EGP 30.41 billion in the same period a year earlier.

As for the standalone financials, the EGX-listed company’s profits skyrocketed to EGP 806.45 million during the January-June period in 2022, compared to EGP 156.23 million in the year-ago period.

It is worth mentioning that in Q1-22, Ezz Steel reported consolidated net profits after tax worth EGP 1.21 billion, higher than EGP 1.18 billion in Q1-21.

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