Egypt-based Ezz Steel’s net loss narrowed to EGP860mn ($53.78mn) in the first quarter of 2020 (Q1), according to the company’s consolidated financial results. The company reported a net loss of EGP1.08bn in Q1 2019.

 

The company’s sales declined by 16.88pc in the Jan-March period to EGP10.78bn from EGP12.6bn in Q1 2019.

 

On a standalone basis, the company reported net loss of EGP267mn in Q1 compared to a loss of EGP370mn in Q1 2019.

 

($1=EGP15.98)

 

 

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