Arab Finance: Ezz Steel (ESRS) incurred consolidated net losses attributable to the parent company during the first nine months of 2023 of EGP 1.152 billion, versus net profits of EGP 3.681 billion during the same period a year earlier, according to financial statements filed to the Egyptian Exchange (EGX) on December 12th.

Net sales rose to EGP 103.24 billion from January to September from EGP 60.64 billion in the same period of 2022.

As for standalone financials, the company’s net profit after tax plunged to EGP 442.759 million in the nine months that ended on September 30th from EGP 1.026 billion in the same period a year ago.

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.

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