Egyptian Iron & Steel Says FY2012 Loses Hit EGP 268.4 Mln

Egyptian Iron & Steel Co. (IRON.CA) reported a net loss of EGP 268.352 million during the fiscal year ended on 30/06/2012, compared to a net loss of EGP 344.979 million a year earlier.

Sales fell to EGP 184.188 million during FY2012, compared to EGP 2.790 billion during FY2011.

Sales losses, after excluding the cost, rose to EGP 510.680 million through FY2012, compared to EGP 364.982 million during FY2011.

Basic losses per share  for FY2012 hit EGP 0.55, compared to EGP 0.70 for FY2011.