Arab Finance: Egypt Aluminum Company’s (Egyptalum) (EGAL) board of directors approved the estimated budget for the upcoming fiscal year (FY) 2023/2024, targeting net profits after tax of EGP 3.5 billion, up from a targeted EGP 1.6 billion in profits for FY 2022/2023, according to the statement filed to the Egyptian Exchange (EGX) on March 5th.

The company also aims to achieve total sales of EGP 26.6 billion during the next FY, compared to EGP 20.51 billion expected to be achieved by the end of the current FY.

Egyptalum added that it aims to pump investments worth EGP 1.05 billion into expansion and renovation works during the next FY.

The Egypt-based company is specialized in extruding aluminum profiles for architectural and industrial applications. The company undertakes the activities of aluminum billet casting, dies, extrusion, alloys, painting, and anodizing.

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