Cairo – Mubasher: Egyptian Iron and Steel (HADISOLB) reported a 16.3% year-on-year increase in its losses for the first nine months of fiscal year 2018/2019.
Net losses stood at EGP 531.28 million during the period between July 2018 and March 2019, compared to EGP 456.62 million in the previous-year period, according to the company’s statement to the Egyptian Exchange (EGX) on Tuesday.
The company generated EGP 928.04 million in revenues by the end of March, against EGP 1.25 billion in the prior year.
During the six-month period ended on 31 December 2018, the Egyptian steel maker incurred a loss of EGP 348.28 million .
