Tuesday, 23 Feb 2010
Reuters reported that Egypt's Al Ezz Dekheila Steel posted 76% fall in its 2009 net profit.

Al Ezz Dekheila said that its unconsolidated net profit was EGP 724.4 million compared with EGP 2.97 billion the previous year.

Investment bank EFG Hermes had forecast the firm's net profit at EGP 539 million and CI Capital had estimated it would be EGP 505 million in a Reuter’s poll.

Meanwhile, net sales fell 30% to EGP 8.16 billion as compared to EGP 11.64 billion in the previous year.

(Sourced from Reuters)