ArabFinance: Egyptian Iron and Steel Company reported a 25% Year on Year decrease in its net loss in the first three months of the fiscal year 2020/2021, according to the company’s November 11th unaudited financial statements filed to the Egyptian Exchange.
Net loss after tax stood at EGP 274,486,159 in the July-September period of 2020, compared to EGP 367,813,340 achieved in the prior-year period.
The company said the extraordinary general meeting gave the go-ahead on November 2nd to its business continuity despite the increasing loss.
Egyptian Iron and Steel, an affiliated company of HCMI, is an Egypt-based public shareholding company engaged in the exploitation, production, and trade of iron and steel products. The Company provides two product segments, Major Products, and Other Products.
