9,659.48 TRY BIST 100 BIST 100
40.78 EUR EUR EUR
37.83 USD USD USD
5.24 CNY CNY CNY
0.13 CNY CNY/EUR CNY/EUR
46.25 TRY Interest Interest
74.48 USD Fossil Oil Fossil Oil
34.28 USD Silver Silver
5.04 USD Copper Copper
102.21 USD Iron Ore Iron Ore
356.00 USD Shipbreaking Scrap Shipbreaking Scrap
3,803.99 TRY Gold (gr) Gold (gr)

Misr National Steel Company Ataqa reports profit decline amidst record sales surge in H1 2024

Misr National Steel Company – Ataqa has reported a 30.36% decline in profits for the first half of 2024, according to its financial statements.

Misr National Steel Company  Ataqa reports profit decline amidst record sales surge in H1 2024

Misr National Steel Company – Ataqa has unveiled its financial results for the first half of 2024, revealing a 30.36% drop in profits despite a substantial rise in sales. According to the company's financial disclosures, Ataqa earned EGP 535.45 million in profit from January to June 2024, a notable decrease from EGP 410.75 million during the same period in 2023.

The decline in profitability contrasts sharply with the company's robust sales performance. Ataqa's sales figures surged to EGP 2.77 billion in the first half of 2024, a significant leap from EGP 922.67 million recorded in the first half of 2023. This upward trend in sales highlights the company's successful market penetration and growing demand for its products.

Examining the quarterly breakdown, Ataqa's profits in the first quarter of 2024 stood at EGP 60.91 million, down from EGP 128.81 million achieved in the first quarter of the previous year. Nevertheless, sales during the same period experienced a dramatic increase, reaching EGP 1.01 billion compared to EGP 399.5 million in Q1 2023.

Ataqa has attributed the mixed financial outcomes to various market dynamics and operational challenges. Despite the profit decline, the surge in sales underscores the company's effective strategic positioning and robust demand in the market.

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

Russian billet prices increased in March

Wednesday, April 2, 2025

Kıraç Galvaniz sold solar mounting system for the SPP project in Romania

Wednesday, April 2, 2025

Leyen warns of new tariffs against the US

Wednesday, April 2, 2025

Trump’s Tariffs Took a Toll on American Manufacturers’ Finances

Friday, March 28, 2025

ArcelorMittal Industeel and EDF Renewables announced the construction of a solar plant in France

Friday, March 28, 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