Arab Finance: Ezz Steel (ESRS) posted a 64.25% year-on-year (YoY) increase in consolidated profit attributable to the parent company during the first half (H1) of 2022, according to the consolidated financial statement filed to the Egyptian Exchange (EGX) on September 11th.

The company recorded a consolidated net profit after minority interest of EGP 2.60 billion in H1 2022, compared to EGP 1.58 billion in H1 2021.

Consolidated net sales rose to EGP 38.49 billion in H1 2022 from EGP 30.41 billion in H1 2021.

At the level of the standalone financial statement, the company achieved a standalone net profit after tax of EGP 806.45 million in the six-month period ended June 30th from EGP 156.23 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.