Egyptian Ezz Steel's income jumped three times

The largest manufacturer became Egypt by Ezz Steel announced on Wednesday the growth of half -month profit by 269 percent, up to 302 million Egyptian pounds or 43 million 800 thousand dollars. Pure revenue from metal rolling sales increased to 11 billion 140 million pounds.

In the second quarter, Ezz Steel net profit increased by 76 percent compared to APPG-2012 and reached 250 million pounds (36 million 300 thousand dollars). Revenue reached 5 billion 560 million Egyptian pounds.

The reason for such a sharp growth was a low base for comparison and the rapid growth of the Egyptian construction sector. "A strong domestic housing market, combined with the resumed construction of a new missile defense system for the production of iron recovery (DRI) gives us confidence for moving the forward," the EZZ Steel statement said.

The commissioning of a new metallurgical plant will allow an Egyptian company to receive from 50 to $ 100 of the savings in the production of a ton of metal production.