Egyptian Iron and Steel widens losses 38 % in FY 2018/19

Egyptian Iron and Steel Company (IRON) recorded net losses of 1.24 billion Egyptian pounds during the fiscal 2018-2019 compared to 899.6 million pounds a year earlier according to its financial results.

The incurred losses widened by 38 percent when compared to a year earlier.

The company has achieved an amount of sales of 1.24 billion pounds in FY 2018/2019 compared to 1.61 billion pounds in the comparable period.

The company recorded losses of 531.28 million pounds between the beginning of July 2018 and the end of March 2019, compared to 456.62 million pounds losses during the same period last a year earlier.