Arab Today, arab today ezz steel h1 net profit slumps 79
Last Updated : GMT 18:31:22
Arab Today, arab today
Arab Today, arab today

Ezz Steel H1 net profit slumps 79 %

Arab Today, arab today

Arab Today, arab today Ezz Steel H1 net profit slumps 79 %

Cairo - Arabstoday

Egypt's Ezz Steel announced Thursday a 79 per cent plunge in its net profit for the first half of 2011: driven by a surge in tax and by foreign exchange losses. Margins were squeezed to 13.3 per cent compared to 16.1 per cent during the first half of 2010, resulting in an EBITDA figure of LE1.24 billion. This was partially eased by the increase in net sales by 24 per cent to LE9.33 billion. Net profit after tax and minority interest dropped to LE51 million ($8.5 million) from LE241 million. The drop in profitability is attributed to a $158 million deferred tax loss realised during the first quarter of 2011, largely a result of the increase in tax rate from 20 to 25 per cent. Foreign exchange losses amounted to LE66 million, the reason for which has yet to be disclosed by Ezz steel management. 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today ezz steel h1 net profit slumps 79 Arab Today, arab today ezz steel h1 net profit slumps 79

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today ezz steel h1 net profit slumps 79 Arab Today, arab today ezz steel h1 net profit slumps 79

 



Arab Today, arab today Designer Rania Adel reveals her new collection

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 23:13 2017 Sunday ,18 June

New ransomware virus attacking mobiles in Oman
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday