19
Aug
13:09
Egyptian rebar re-roller suffers Q2 sales drop
Egyptian rebar re-roller Misr National Steel Ataqa suffered a -34% on-year decline in revenue in the second quarter to EGP 242.35m ($27.3m) due to a slowdown in shipments, Kallanish learns.
This meant the firm sunk to a net loss of EGP 13.68m in Q2 compared to a net profit of EGP 27.97m in the year-earlier quarter.
In the first half of 2016 Ataqa’s net profit thus declined -53% on-year to EGP 17.2m.
Earlier this year the firm said it was mulling deli…
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Anonymous
Very good overview of the weekly steel market.
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