Iron and Steel Company for Mines and Quarries posts June sales and reports significant profit growth

The Iron and Steel Company for Mines and Quarries has announced impressive sales figures for June, totaling EGP 17.83 million. According to a statement released to the Egyptian Stock Exchange, this robust sales performance primarily stems from the company's operations at the Bahariya Oasis mines.

In addition, the company's Beni Khaled – Samalut quarries contributed approximately EGP 5,656 to the overall sales figure. This latest performance underscores a period of substantial growth for the company.

For the fiscal year spanning from July to March 2024, the Iron and Steel Company for Mines and Quarries reported a noteworthy increase in net profits, reaching EGP 113.255 million. This marks a significant rise from the EGP 97.76 million recorded during the same period the previous year.

Revenue for the same period also saw a substantial boost, climbing to EGP 252.579 million compared to EGP 217.5 million in the prior fiscal year. This growth highlights the company’s continued strong performance and its pivotal role in the Egyptian mining and quarrying sector.