Cairo – Mubasher: Ezz Steel’s annual losses shrank 28%, while having turned into losses in the fourth quarter of 2015.
In the fourth quarter of 2015, the company’s consolidated profits reached EGP137 million, against EGP307.2 profits for the year ago period, said the company in a bourse filing.
The company reported that its 2015 consolidated losses shrank 27.8% year-over-year to EGP603.3 million from EGP835.6 million.
Meanwhile, its standalone losses for 2015 rose by 350.5% year-on-year to EGP210.8 million from EGP46.8 million.
In the first nine months of 2015, the company logged EGP740.32 million in net losses, compared a net loss of EGP528.4 million a year earlier.
