Cairo – Mubasher: Egyptian Iron and Steel (HADISOLB) on Tuesday announced that its local sales fell by 16% year-on-year during the first quarter of fiscal year 2018/2019.
Local sales amounted to EGP 248.7 million during the period between July and September, versus EGP 287.7 million in the prior-year period, the company said in a filing to the Egyptian Exchange (EGX).
The company’s revenues stood at nearly EGP 363.3 million at the end of September.
HADISOLB previously 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.
