Egypt Aluminum’s profits hike 131.94% YoY in 9 months

Egypt Aluminum’s profits hike 131.94% YoY in 9 months

Arab Finance: Egypt Aluminum Company (Egyptalum) (EGAL) registered a 131.94% year-on-year (YoY) surge in net profit after tax for the first nine months of fiscal year (FY) 2022/23, according to the company’s unaudited financial statement filed to the Egyptian Exchange (EGX) on May 3rd.

Net profit after tax reached EGP 3.916 billion in the nine-month period ended March 31st 2023, compared to EGP 1.688 billion in the same period a year earlier.

The company generated revenues of EGP 14.751 billion during the July 2022 to March 2023 period, higher than EGP 10.762 billion in the same nine months a FY earlier.

Egyptalum is the largest aluminum producer in Egypt and is one of the leading companies in Africa.

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