Cairo – Mubasher: The financial indicators of Egyptian Iron and Steel (HADISOLB) have shown a 20% year-on-year surge in sales for the nine-month period ended March 2018.
The company has achieved local sales of around EGP 1.08 billion in the first nine months of fiscal year 2017/2018, compared to EGP 894 million in the prior-year period, the company said in a filing to the Egyptian Exchange (EGX) on Tuesday.
On the other hand, the company’s exports shrank to $7.2 million in the July-March period of FY17/18 from $13.2 million in the corresponding period of FY16/17.
Moreover, revenues reached nearly EGP 1.24 billion during the nine-month period ended last March, the Egypt-based steel manufacturer noted.
It is worth noting that HADISOLB had posted a net loss of EGP 456.6 million for the July-March period of FY17/18, against a loss of EGP 441.7 million in the year-ago period.
