The Iron and Steel Mines and Quarries Company has reported a slight decline in its net profit for the last fiscal year, according to its latest financial indicators. The company achieved a net profit of EGP 125.95 million from July 2023 to June 2024, a marginal decrease from the EGP 127.81 million recorded in the previous year.
Sales figures also saw a slight drop, with the company reporting EGP 305.51 million in sales for the last fiscal year, compared to EGP 309.92 million in the comparative period. Despite these declines, the company maintained steady performance in its monthly sales, achieving EGP 22.5 million in total sales for July 2024.
In a statement to the Stock Exchange, the company highlighted that the Bahariya Oasis mines contributed EGP 22.49 million to the July sales, while the Beni Khaled – Samalut quarries added approximately EGP 7,812.
The company remains optimistic about its future prospects, focusing on strategic initiatives to enhance operational efficiency and market competitiveness.
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