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HomeEconomyEgypt: Ataqa Logs Nearly $13.30mln Net Profits in H1-23

Egypt: Ataqa Logs Nearly $13.30mln Net Profits in H1-23

Misr National Steel (Ataqa) recorded net profits after tax valued at EGP 410.74 million in the first half (H1) of 2023, marking a leap from EGP 86.75 million a year earlier.

On the other hand, the sales plummeted to EGP 922.67 million in the January-June 2023 period from EGP 1.34 billion in H1-22, according to the income statements.

The earnings per share (EPS) amounted to EGP 0.34 in H1-23, an annual rise from EGP 0.07.

Total assets hit EGP 2.36 billion as of 30 June 2023, compared to EGP 1.79 billion as of 31 December 2022.

Financial Results for Q2-23

In the second quarter (Q2) of 2023, the net profits after tax of Ataqa reached EGP 281.93 million, higher year-on-year (YoY) than EGP 18.79 million.

Sales jumped to EGP 523.16 million in Q2-23 from EGP 467.45 million in Q2-22, while the EPS surged to EGP 0.23 from EGP 0.01.

During the first three months (3M) of 2023, the EGX-listed firm posted a hike in net profit after tax to EGP 128.81 million, versus EGP 67.95 million as of 31 March 2022.

Source: Zawya

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