Ezz Steel’s consolidated profit soars 48.5% YoY in 9 months
Updated 12/1/2022 11:18:00 AM
Arab Finance: Ezz Steel (ESRS) posted a 48.47% year-on-year (YoY) surge in consolidated profit attributable to the parent company during the first nine months of 2022, according to financial statements filed to the Egyptian Exchange (EGX) on Thursday.
The company’s consolidated profit excluding minority interest soared to EGP 3.682 billion in nine months to September 30th from EGP 2.48 billion a year earlier.
Sales surged to EGP 60.644 billion from January to September from EGP 49.056 billion the year before.
As for standalone financials, the company’s net profit after tax skyrocketed to EGP 1.037 billion in the nine months that ended on September 30th from EGP 236.236 million in the same period a year ago.
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.
