Cairo – Mubasher: The modified financial indicators of Egyptian Iron and Steel (HADISOLB) on Tuesday showed a 21.9% year-on-year rise in losses for fiscal year 2016/2017.
The firm’s losses reached EGP 750.26 million in the fiscal year ended June 2017, compared to EGP 615.5 million in the prior fiscal year, the firm said in a filing to the Egyptian Exchange (EGX).
Sales cost increased to EGP 2.58 billion in FY16/17, versus EGP 2.3 billion in FY15/16.
The financial indicators of the company had previously recorded losses of EGP 744.68 million in FY16/17, from EGP 615.55 million in FY15/16.
By 11:10 am Cairo time, HADISOLB’s stock added 4.26% to EGP 5.63.
