Ezz Steel earnings rise 1.5% for Q4 2011

Apr 10, 2012 | 07:03 AM |

Ezz Steel saw earnings rise 1.5% in the fourth quarter of 2011, Metal Bulletin calculations show, despite a fall in net sales against the same period the previous year. The Middle East’s largest independent steel producer saw earnings before interest, taxes, depreciation and amortisation (Ebitda) rise to EG£540 million ($87.9 million) from EG£532 million in the third quarter. This comes as the 12-month consolidated results for 2011 were published on Tuesday April 10, and saw Ebitda rise by15.6% to EG£2.44 billion for the year from EG£2.11 million in 2010. Sales for the last three months of the year fell....

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