Source - SMW
ezzsteel's net salea fell by 3% to EGP9,003m in the six months to the end of June but gross profit increased by 90% to EGP819m and EBITDA rose by 113% to EGP808m.

Chairman and managing director  Paul Chekaiban said:  "Continuing the trend we have seen in the first quarter of 2016, international steel markets remained weak during the second quarter and this, combined with the erratic volatility of the Egyptian financial environment, has led to us recording a loss during the period.   "However, our average overall operating margin has remained solid and we are seeing greater balance in the operating margin across the business units. This is due to the enhanced flexibility that we have built into our business model in recent years representing a first step towards gradual recovery."