CAIRO – Egyptian Minister of the Public Business Sector Mohamed Shimi said Wednesday that the regular general assembly of the Metallurgical Industries Holding Co. (MIH) endorsed its draft budget estimates of the fiscal year 2024-2025.
The target revenues are estimated to reach 62.5 billion pounds, i.e. about 88% growth rate on that achieved in June 2023, the Ministry said in a statement.
The meeting took up a report by the MIH board that put the target net profit at 17 billion pounds, i.e. 94% rise on the fiscal year ending June 30, 2023.
The draft budget also set an increase in target exports by 130% to nearly 32 billion pounds.
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