Cairo – Mubasher: The financial indicators of Egyptian Iron and Steel (HADISOLB) have shown a 0.1% year-on-year slight drop in local sales for the first seven months of fiscal year 2017/2018.
The company has achieved around EGP 726.33 million in the period starting July 2017 to January 2018, versus local sales of EGP 727.26 million in the prior-year period, HADISOLB said in a statement to the Egyptian Exchange (EGX) on Sunday.
Exports shrank to $5,600 in the seven-month period of FY17/18, compared to exports of $10,770 in the same period of FY16/17, the EGX-listed firm said.
The iron and steel producer’s revenues amounted to about EGP 910.1 million in the seven months ended last January.
Meanwhile, total sales and exports stood at approximately EGP 224.6 million in January 2018, according to the statement.
Given that the financial indicators of HADISOLB have shown a decline in local sales in the first half of FY17/18 to EGP 604.89 million, against sales of EGP 620.96 million in H1-16/17.
