The Iron and Steel Company for Mines and Quarries (ISMQ) announced that it achieved sales worth EGP 29.6 million (621,600 USD) in October. The company stated that total sales from the Bahariya Oasis mines reached EGP 29.61 million (621,900 USD).
According to the company’s statement, net profit for the first quarter of the current fiscal year rose to EGP 80.5 million (1,69 million USD) — about 3.4 times higher than the EGP 23.7 million (498,000 USD) recorded in the same period last year. During the same period, revenues increased to EGP 213 million (4,47 million USD), compared to EGP 84 million (1,76 million USD) in the previous year.
Annual results also showed strong growth. ISMQ’s net profit jumped to EGP 698 million (≈14,66 million USD) in the last fiscal year, up from EGP 125.95 million (2,65 million USD) in the previous year. Annual sales rose to EGP 1.35 billion (28,35 million USD). The company attributed this performance to the liquidation of stagnant inventories, expansion of export activities, and lower operating costs.
In June, ISMQ reported sales of EGP 125 million (2,63 million USD), with EGP 124.95 million (2,63 million USD) coming from the Bahariya Oasis mines. Sales from the Beni Khaled – Samalut quarries were recorded at EGP 34.6 thousand (726 USD).
The General Assembly approved the company’s 2025–2026 fiscal year budget, projecting a surplus of EGP 305.3 million (6,41 million USD). The investment budget for the same year, worth EGP 151.3 million (3,18 million USD), will be financed through internal resources.
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