EZZ Steel Company - S.A.E. reports 89% decline in 9M 2019 gross profit

  • Jan 02, 2020 GMT
  • Team Kalkine
  EZZ Steel Company - S.A.E. (LON: AEZD) has released its consolidated results for the 9-month period ending 30 September 2019.
  • The results prepared in accordance with Egyptian Accounting Standards, stated that the company’s Net sales declined by 6 per cent to EGP 35,258 million as compared to EGP 37,447 million for 9M 2018.
  • The gross profit of the company slumped by 89 per cent to EGP 529 million as compared to EGP 4,642 million in the same period the previous year.
  • On 2nd January 2020, at the time of writing, GMT 08:07 AM, AEZD shares were trading at USD 2.80, unchanged against the previous day closing price.

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