In Egypt Ezz Steel posts 2015 net loss of $47M

The company's sales fell to 16.641 billion Egyptian pounds in 2015 compared to 19.398 billion a year earlier, the company said in a statement on Thursday.

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Workers walk in front of a factory belonging to Ezz Steel, Egypt's largest steel producer, at an industrial complex in Sadat City, 94 km (58 miles) north of Cairo, April 17, 2013. REUTERS/Amr Abdallah Dalsh play Workers walk in front of a factory belonging to Ezz Steel, Egypt's largest steel producer, at an industrial complex in Sadat City, 94 km (58 miles) north of Cairo, April 17, 2013. REUTERS/Amr Abdallah Dalsh
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Egypt's Ezz Steel posted a full year net loss of 418.03 million Egyptian pounds ($47 million) in 2015, compared with a 696.56 million pound loss reported the year before.

The company's sales fell to 16.641 billion Egyptian pounds in 2015 compared to 19.398 billion a year earlier, the company said in a statement on Thursday.

($1 = 8.8799 Egyptian pounds)

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