Ezz Steel reports 3.2% YoY lower consolidated profit in Q1
Updated 6/5/2022 9:38:00 AM
Arab Finance: Ezz Steel (ESRS) has posted a 3.18% year-on-year (YoY) decline in consolidated profit attributable to the parent company during the first quarter (Q1) of 2022, according to the financial statements filed to the Egyptian Exchange (EGX) on June 5th.
The company's consolidated net profit excluding minority interest stood at EGP 758.854 million in Q1 2022, compared to EGP 783.746 million in Q1 2021.
Consolidated net sales surged to EGP 18.64 billion in Q1 2022 from EGP 13.498 billion in Q1 2021.
The company’s standalone profit after tax dropped to EGP 18.203 million in the three-month period ended March 31st from EGP 74.184 million in the same period a year earlier.
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.
