Arab Finance: Misr National Steel (Ataqa) reported a 89.57% year-on-year (YoY) increase in net profits for the first quarter (Q1) of 2023, according to the company’s financial income statement filed to the Egyptian Exchange (EGX) on May 29th.

The company recorded a net profit after tax of EGP 128.817 million in Q1 2023, compared to a profit of EGP 67.951 million in Q1 2022.

Revenues dropped to EGP 399.507 million in the three-month period ended March 31st from EGP 875.946 million in the same quarter 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.

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