Iron & Steel Co. Sales Hit EPG 123.4 Mln In April

Egyptian Iron & Steel Co. (IRON.CA)’s total sales during last April hit EGP 123.431 million, including EGP 83.343 million of local sales and EGP 40.088 million of export operations.

The company’s sales during the first 10 months of the fiscal year of 2011/2012 have been surged hitting EGP 1.493 billion, including EGP 1.1 billion of local sales and EGP 388.2 million of exports.

Total sales to production ratio amounted to 102% in April, while the total sales to production ratio during the first 10 months of the FY of 2011/2012 reached 110%.

The company posted net losses of EGP 396.816 million during the current fiscal year, higher 103%. Noting that it had posted net losses of EGP 195.093 million for FY 2010/2011.

Egyptian Iron & Steel Company’s issued capital values at EGP 976.872 million having a volume of trades reached 488.436 million securities in which the par value amounts to 2 pounds a share.