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Egyptian Iron & Steel targets losses of LE250 m in FY2018/19

Egyptian Iron & Steel targets losses of LE250 m in FY2018/19

ArabFinance: Egyptian Iron & Steel's (IRON) Board of Directors (BoD) approved the estimated budget for fiscal year 2018/2019. The Company said in a statement sent to EGX, it targeted net losses for FY18/19 of LE250.3 million. 

Egyptian Iron had announced in previous statement targeting losses of LE116.06 million for FY2018/2019. The Company has planned to inject investment amounts to LE257.6 million through replacement and renewal process.

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