Cairo – Mubasher: The financial indicators of Al Ezz Dekheila Steel – Alexandria have shown a 172% year-on-year hike in profits for the first quarter of 2018 due to higher sales.
Net profit surged to EGP 713 million during the three-month period ended last March, versus EGP 262 million in Q1-17, the company said in a filing to the Egyptian Exchange (EGX) on Tuesday.
Sales grew to EGP 9.6 billion in Q1-18 from EGP 5.2 billion in the prior-year period.
Al Ezz Dekheila Steel had previously reported profits of EGP 362.4 million for the full-year ended December 2017, against EGP 1.3 billion in the year before, including minority shareholders’’ rights.
The company board had also recommended distributing cash dividends of EGP 668.2 million for 2017.
