Egyptalum’s profits rise 61% YoY in Q1 FY2023/2024

Updated 11/8/2023 10:12:00 AM
Egyptalum’s profits rise 61% YoY in Q1 FY2023/2024

Arab Finance: The Aluminium Company of Egypt (Egyptalum) saw a 61% year-on-year (YoY) increase in net profits after tax in the first quarter (Q1) of fiscal year (FY) 2023/2024, the firm’s financial indicators showed on November 8th.

The company recorded EGP 1.63 billion in net profits in Q1 of FY 2023/2024, up from EGP 642.355 million during the same quarter the year before.

Meanwhile, the firm grew revenues of EGP 5.998 billion in the first quarter of the current FY, versus EGP 3.472 billion in Q1 of last FY.

As the largest aluminum producer in Egypt and one of the leading companies in Africa, Egyptalum 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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