Egypt's Iron and Steel company achieves record sales in December

Egypt's Iron and Steel Company for Mines and Quarries has recently disclosed an impressive achievement, reporting a total sales figure of 39.3 million pounds for December. According to a statement released to the Egyptian Stock Exchange, the company clarified that the sales breakdown includes 39.28 million pounds from Bahariya Oasis mines and approximately 21 thousand pounds from Bani Khaled-Samalut quarries.

In terms of financial performance, the company noted a net profit of 73.77 million pounds for the period spanning from July to December 2023. This represents a substantial increase compared to the profits of 69.5 million pounds during the corresponding period in 2022. Furthermore, the company's revenues for the first half of the current fiscal year witnessed growth, reaching 166.61 million pounds in comparison to 152.6 million pounds recorded in the same period of 2022. This financial data underscores the company's resilience and adaptability, positioning it positively in response to evolving market dynamics.