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Tuesday, 10 August 2021

Setting the record straight on CI Capital and Ezz Steel earnings

We goofed in our coverage of earnings reports in yesterday’s EnterprisePM and have corrected the stories on our website.

Mea culpa #1: CI Capital’s net income rose to EGP 974 mn in 2Q, not EGP 974k. Decimals — they’re hard.

Mea culpa #2: Ezz Steel did not make a loss in the second quarter; it recorded an EGP 1.21 bn profit after being in the red last year, according to its consolidated financials (pdf). The story has been updated on our website. Subsidiary Al Ezz Dekheila Steel was also in the black in 2Q2021, with the company reporting (pdf) yesterday an EGP 1.04 bn profit during the quarter, compared to an EGP 1.2 bn loss last year.

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