Cairo – Mubasher: Ezz Steel said Thursday that Q3 consolidated losses narrowed 57.7% year-on-year to EGP 127.9 million from EGP 302.7 million, according to a bourse statement.

Over the first nine months, the steel supplier lost EGP 744.2 million, higher 0.5% year-on-year from EGP 740.3 million.

Earlier, the company reported that Q2 losses deepened by 30.6% year-over-year to EGP 380.9 million ($42.9 million) from EGP 291.6 million, taking into consideration minority rights.

H1 consolidated losses reached EGP 616.3 million, higher 40.8% year-on-year from EGP 437.6 million.

Meanwhile, H1 unconsolidated losses declined 47.9% to EGP 108.2 million from EGP 207.7 million for the year-ago period.

Sales in the first half fell to EGP 9 billion from EGP 9.2 billion for the prior-year period, the bourse statement revealed.