Egypt Aluminum swings to profits in 9M-FY21/22

Cairo – Mubasher: Egypt Aluminum turned profitable in the first nine months (9M) of fiscal year (FY) 2021/2022, logging net profits after tax worth EGP 1.68 billion, versus net losses of EGP 347.72 million in the year-ago period.

During the July-March period of FY21/22, the company generated EGP 10.76 billion in revenue, up from EGP 8.14 billion in the same period a year earlier, according to the initial results on Sunday.

Moreover, the earnings per share (EPS) stood at EGP 4.09 in the nine-month period of FY21/22, against a loss per share of EGP 0.84 in the corresponding duration of the previous FY.

In the first half (H1) of FY21/22, Egypt Aluminum reported net profits worth EGP 814.15 million, compared to net losses of EGP 341.30 million in H1-20/21.

It is worth noting that the firm is targeting investments at a total value of EGP 1.22 billion in FY22/23.

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