Egypt’s Ezz Steel records 9% fall in Q1 sales

Ezz Steel (ESRS.CA), Egypt’s biggest steel maker, posted first quarter sales worth 4.79 billion Egyptian pounds (US$611.5 million), 9 percent lower than a year earlier.  In the first quarter of 2014, Ezz Steel posted sales of 5.29 billion pounds.

In a statement to the Cairo bourse, Ezz Steel said the long steel products, notably rebars had contributed 81 percent of the total sales, equivalent to 3.9 billion pounds, while flat steel products represented 18 percent or 842 million pounds.