Cairo – Mubasher: Misr National Steel (Ataqa) turned to losses in the second quarter of 2016 pressured by the declines of sales.
Ataqa suffered losses of EGP 13.68 million in Q2-2016, against profits of EGP 27.97 million for the same period of the previous year.
The company attributed its losses to slowdown of sales as it stood at EGP 242.35 million in Q2-2016, down by 34% from EGP 365 million a year earlier.
As for the first half of 2016, the company reported net profits of EGP 17.2 million down from EGP 36.3 million for the comparable period of the preceding year.
