Tuesday, August 19, 2008

Real estate boom is only one reason for Ezz Steel profit hike

(Daily News)

The steel market sits at an industry crossroads, driven not only by the energy markets but also from the real estate markets which it supplies. With energy prices on a long-term rise and the real estate market in Egypt booming, Ezz Steel announced yesterday record profits for the first half of 2008, dwarfing its robust 2007 numbers.Ezz reported a 63 percent increase in net profit to LE 1.02 billion.

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