Arab Finance: Misr National Steel (Ataqa) reported a 373.48% year-on-year (YoY) increase in net profits for the first half (H1) of 2023, according to the company’s financial income statement filed to the Egyptian Exchange (EGX) on August 16th.

The company recorded a net profit after tax of EGP 410.748 million in H1 2023, compared to a profit of EGP 86.750 million in H1 2022.

Revenues dropped to EGP 922.671 million in the six-month period ended June 30th from EGP 1.343 billion in the same half of 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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