Arab Finance: Ezz Steel (ESRS) reported a 20.7% year-on-year (YoY) surge in consolidated profit attributable to owners of the holding company in 2022, according to financial statements filed to the Egyptian Exchange (EGX) on April 3rd.

The company’s consolidated profit excluding minority interest rose to EGP 4.25 billion last year from EGP 3.52 billion a year earlier.

Sales surged to EGP 83.98 billion in the 12-month period ended December 31^st, 2022, compared to EGP 67.81 billion the year before.

As for the standalone financial results, the company’s net profit after tax climbed to EGP 1.056 billion in 2022 from EGP 288.15 million in 2021.

Ezz Steel is an Egypt-based manufacturer and trader of steel and related products. Together with its subsidiaries, the company is engaged in the manufacture, trade, and distribution of iron and steel products of all kinds and associated services.