Cairo – Mubasher: The board of directors of the Egyptian Iron and Steel (Hadisolb) announced that the company’s sales fell by 43.4% year-on-year during the first half of fiscal year 2019/2020.
Total sales plunged to EGP 362.77 million during the six-month period ended 31 December 2019, compared to EGP 640.89 million in the prior-year period, the company said in a statement to the Egyptian Exchange (EGX) on Sunday.
Hadisolb’s revenues totalled EGP 586.13 million during the July-December period of 2019, the statement showed.
It is noteworthy that Hadisolb’s unaudited financial results for H1 of FY19/20 showed a net loss of EGP 478.18 million, compared to EGP 348.28 million in the corresponding period a year earlier.
