Cairo – Mubasher: AL Ezz Dekhela Steel – Alexandria turned a loss in the first quarter of the fiscal year 2016, the consolidated financial results revealed.
The company lost EGP 173.67 million ($19.3 million) in Q1-16, against EGP 1.22 million ($136,000) profits for the year-ago quarter.
The standalone alone financial statements showed that Al Ezz incurred EGP 297.4 million losses in the first quarter of 2016, compared with EGP 116.16 million for the first quarter of 2015.
During 2015, the company's losses widened by 11.5% year-over-year to EGP 448.5 million from EGP 402.16 million
