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Tuesday, 11 April 2017

Earnings watch: Ezz Steel releases FY2016 results

EARNINGS WATCH- Al Ezz Dekheila Steel reported a net profit of EGP 91 mn in 2016, compared with a net loss of EGP 263 mn in 2015, according to filing with the EGX. The company’s sales grew 26.9% in 2016 to EGP 13.51 bn. Meanwhile, Faisal Islamic Bank of Egypt reported a net profit of EGP 2.91 bn in 2016, up sharply from EGP 781.99 mn in 2015, according to a disclosure. The bank said that EGP 1.55 bn of its bottom line was due to gains from foreign currency benefits after the float in November.

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