Financial Performance
Increased demand for reinforced steel in the domestic market and higher prices for steel worldwide helped to boost the profits of the Libyan Iron and Steel Company to over 100 million Libyan dinars (USD $80.5 million) by the end of 2004. The company’s return on export sales in 2003 was $165 million, it rose to $275 million in 2004 and reached $250 million by 2005. Revenue from operating activities increased from approximately $300 million in 2003 to more than $435 million in 2004. According to Lisco's Chairman Mohamed Elmabruk, by the end of 2005, revenue had surpassed $400 million.
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