Cairo – Mubasher: The unaudited standalone financial results of Al Ezz Dekheila Steel – Alexandria showed a turn to losses during the first half of 2019.
The iron and steel firm incurred net losses of EGP 30 million in the January-June period of 2019, against a net profit of EGP 1.611 billion in the year-ago period, according to a filing to the Egyptian Exchange (EGX) on Tuesday.
Meanwhile, the company’s revenues decreased to EGP 18.68 billion in H1-19 from EGP 19.91 billion in H1-18.
It is worth mentioning that during the first quarter of 2019, the EGX-listed firm swung to net losses of EGP 611.02 million, versus net profits of EGP 431.78 million in Q1-18.
