Egypt’s Ezz Steel’s revenues rise 38% to reach $1bn

RIYADH: Egypt’s largest steel company, Ezz Steel, saw its revenues rise by 38 percent year-on-year in the first quarter of 2022, according to CNBC Arabia. 

The company’s sales reached 18.64 billion Egyptian pounds ($1 billion) during that period, up from 13.4 billion Egyptian pounds in the same quarter last year.

Although gross profit has grown by over 60 percent year-on-year, net profit has seen a slight increase of 2.4 percent during the first quarter of 2022, compared to the same period last year.