Egypt Aluminum’s profits hike 110% YoY in H1 FY2022/2023

Updated 1/31/2023 1:13:00 PM
Egypt Aluminum’s profits hike 110% YoY in H1 FY2022/2023

Arab Finance: Egypt Aluminum Company (Egyptalum) (EGAL) registered a 110% year-on-year (YoY) surge in net profit after tax for the first half (H1) of fiscal year (FY) 2022/2023, according to the company’s unaudited financial statement filed to the Egyptian Exchange (EGX) on January 31st.

Net profit after tax reached EGP 1.71 billion in the six-month period ended December 31st 2022, compared to EGP 814.16 million in H1 FY 2021/2022.

The company generated revenues of EGP 8.34 billion in H1 FY 2022/2023, higher than EGP 6.70 billion in the same half a FY earlier.

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

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