Cairo – Mubasher: Egyptian Iron and Steel (HADISOLB) said Tuesday that it plans to trim its losses by 62% in fiscal year 2017/2018 to EGP 153.22 million, versus EGP 401.610 million estimated losses for the FY16/17.
The company eyes to increase its sales in FY17/18 to EGP 5.19 billion, compared to estimated sales of EGP 2.4 billion for the current year, according to a bourse filing.
Production per month amounted to 22,300 tonnes in January 2017, versus 28,700 tonnes in January 2016, another statement said.
By 11:06am Cairo time, the stock rose 1.02% to EGP 4.97, with a turnover of EGP 1.7 million.
