ArabFinance: The board of directors of Iron and Steel for Mines and Quarries (ISMQ) has endorsed the company’s planning budget for fiscal year (FY) 2022/2023, according to a statement filed to the Egyptian Exchange (EGX).

As per the FY 2022/2023 planning budget, the company targets recording a net profit after tax of EGP 91.82 million.

It is worth noting that the company previously posted a net profit after tax of EGP 21.95 million for the period ended December 31st 2021.

It is worth noting that ISMQ is a demerging company from Egyptian Iron and Steel (IRON).