Egypt Aluminum’s profits hike 110.8% YoY in 3 months
Updated 10/31/2022 10:11:00 AM
Arab Finance: Egypt Aluminum Company (Egyptalum) (EGAL) registered a 110.89% year-on-year (YoY) surge in net profit after tax for the first quarter (Q1) of fiscal year (FY) 2022/2023, according to the company’s unaudited financial statement filed to the Egyptian Exchange (EGX) on October 31st.
Net profit after tax reached EGP 642.635 million in the three-month period ended September 30th 2022, compared to EGP 304.718 million in Q1 FY 2021/2022.
The company generated revenues of EGP 3.47 billion in Q1 FY 2022/2023, higher than EGP 3.33 billion in the same quarter a FY earlier.
Egyptalum is the largest aluminum producer in Egypt and is one of the leading companies in Africa.
