Arab Finance: Iron and Steel for Mines and Quarries’ (ISMQ) ordinary general meeting (OGM) has endorsed the company’s estimated budget proposed by the board earlier for the fiscal year (FY) 2023/2024 with net profits after tax of EGP 145.407 million, the company stated on April 26th.
The OGM has also ratified the firm’s investment budget for FY 2023/2024 with a total of EGP 91.850 million.
The company is targeting an estimated amount of EGP 313.865 million in operating revenues for FY 2023/2024.
It is worth noting that ISMQ is a demerging company from Egyptian Iron and Steel (IRON).