Egypt- Ezz Steel Q1 profits surge 78%

02 Jun 2010

(MENAFN) The Managing Director of Ezz Steel, Egypt?s biggest publicly traded producer of the metal, said that the company?s profits jumped 78 percent in the first quarter of 2010, Bloomberg reported.

Net income increased to $18.5 million compared with $10.4 million in the same period a year earlier, the Cairo-based company said in a statement distributed by the Regulatory News Service.

Net sales were steady at $599 million, while earnings before interest, taxation, depreciation and amortization rose 52 percent to $102.5 million, the statement said.

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