9,484.26 TRY BIST 100 BIST 100
37.93 USD USD USD
5.23 CNY CNY CNY
41.82 EUR EUR EUR
0.12 CNY CNY/EUR CNY/EUR
45.20 TRY Interest Interest
69.56 USD Fossil Oil Fossil Oil
31.51 USD Silver Silver
4.76 USD Copper Copper
102.77 USD Iron Ore Iron Ore
356.00 USD Shipbreaking Scrap Shipbreaking Scrap
3,797.04 TRY Gold (gr) Gold (gr)

Egypt's Iron and Steel Mine Company aims for profitability surge in fiscal year 2024-2025

This decision follows a period of impressive financial performance, with significant growth in net profit recorded during the first half of the current fiscal year compared to the previous year.

Egypt's Iron and Steel Mine Company aims for profitability surge in fiscal year 2024-2025

Egypt's Iron and Steel Company for Mines and Quarries has unanimously approved its estimated budget for the upcoming fiscal year, signaling its unwavering commitment to achieving new heights in profitability. In a candid statement to the Egyptian Stock Exchange, the company unveiled its ambitious goal: to secure a net profit after taxes totaling approximately 447.9 million pounds during the fiscal year 2024-2025.

This target builds upon the company’s remarkable financial track record in recent times. Notably, in the period spanning from July to December 2023, the company posted a net profit of 73.77 million pounds, showcasing substantial growth compared to the same period in 2022, where profits stood at 69.5 million pounds.

Moreover, the company’s revenues surged during the first half of the current fiscal year, reaching 166.61 million pounds, a significant leap from the 152.6 million pounds recorded during the corresponding period in 2022.

The greenlighting of the estimated budget underscores the company’s unwavering confidence in its strategic direction and operational prowess, positioning the Iron and Steel Company for Mines and Quarries to continue its upward trajectory of growth and financial prosperity.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

China to impose a 34% tariff on the US!

Friday, April 4, 2025

American Iron and Steel Institute praises Trump

Friday, April 4, 2025

Poor quality steel alert in Thailand: Federation of Thai Industries calls for stricter inspections

Friday, April 4, 2025

ArcelorMittal South Africa closure delayed by six months

Friday, April 4, 2025

EUROMETAL discusses critical steel sector issues with European Commission

Friday, April 4, 2025
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now