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Ataqa sees 51% profit decrease

Ataqa sees 51% profit decrease

ArabFinance: Misr National Steel – Ataqa (ATQA) posted 51% Year on Year decline in its net profit in Quarter one (Q1) of 2020, according to the company's June 14th disclosure filed to the Egyptian Exchange.

Net profit stood at EGP 13,730,259 in Q1 2020, compared to EGP 28,509,560 achieved in Q1 2019. 

In 2019, the company posted a net profit of EGP 13,896,434, compared to EGP 174,910,644 posted last year.

ATAQA is an Egypt-based company engaged in the manufacture of reinforced steel bars according to Egyptian and international standards in different sizes and thicknesses. The company’s plant is located in Suez, 110 kilometers from Cairo, consists of a rolling mill with bar quenching system, water treatment plant, maintenance workshop, quality assurance laboratory and electrical sub-station.

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