Ezz Steel turns to net losses in Q1 financial results

Egypt-based manufacturer and trader of steel, Ezz Steel recorded consolidated net losses, after tax attributable, to owners worth of 1.66 billion Egyptian pounds in the first quarter (Q1) of 2023.

The net losses were against net profits with a value of 758.85 million pounds in the first quarter of 2022.

The loss per share, both basic and diluted, hit 3.12 pound during Q1 of 2023, versus earnings per share (EPS) worth 1.42 pounds in the year-ago period.

During the January-March 2023 period, the sales reached 27.84 billion pounds, higher year-on-year than 18.64 billion pounds.