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Ezz Steel profit slumps
- Egypt: Sunday, August 30 - 2009 at 13:26
Egypt-based Ezz Steel has reported a 90% decline in first half net profit to EGP101m ($18.25m), compared to EGP1.0bn in the first half of 2008. Net sales were EGP6.4bn, compared to EGP11.1bn a year earlier. "Undoubtedly, 2009 will be a tough year for Ezz Steel Rebars, as with any other steel producer, but Ezz could prove to be quite resilient," Beltone Financial told Reuters.
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StaffSunday, August 30 - 2009 at 13:26 UAE local time (GMT+4)
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