Cairo – Mubasher: Egyptian Iron and Steel (HADISOLB) on Tuesday announced that its local sales posted a 10% year-on-year decline for the two-month period ended August.
Local sales amounted to EGP 170.2 million during July and August, compared to EGP 189.4 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 279.3 million at the end of August.
HADISOLB previously reported a 3.1% year-on-year decline in losses for fiscal year 2017/2018.
Net loss amounted to EGP 726.3 million in FY17/18, versus EGP 750.26 million in FY16/17.
Sales rose to EGP 1.57 billion in the fiscal year ended June, from EGP 1.5 billion a year earlier.
