Cairo – Mubasher: Ezz Steel reported an increase in its losses for the second quarter and first half of the fiscal year 2016, a bourse filing revealed on Thursday.

According to the consolidated financial results, 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.

The stock quote was placed at EGP 7.14 on Wednesday.