Cairo – Mubasher: Egyptian Iron and Steel (HADISOLB) on Tuesday posted a 6.8% year-on-year decline in its losses for the first quarter of fiscal year 2018/2019.
Net loss totalled EGP 178.14 million in the three-month period ended September, versus losses of EGP 191.08 million in the same quarter a year earlier, the company said in a filing to the Egyptian Exchange (EGX).
Revenues retreated to EGP 281.2 million in Q1-18/19, from EGP 369.3 million in the prior-year period.
HADISOLB previously reported a 3.1% year-on-year drop in losses for FY17/18, suffering a net loss of EGP 726.3 million, versus EGP 750.26 million in FY16/17.
