Egypt aluminum generates higher profits at $126mln in 9M-22/23

Egypt Aluminum recorded net profits after tax amounting to EGP 3.91 billion during the first nine months (9M) of fiscal year (FY) 2022/2023, an annual leap from EGP 1.68 billion.

The sales enlarged to EGP 14.75 billion in 9M-22/23 from EGP 10.76 billion in 9M-21/22, according to the financial results.

Earnings per share (EPS) hit EGP 5.51 as of 31 March 2023, higher year-on-year (YoY) than EGP 2.37.

It is worth noting that the board members approved the income statements during their meeting that was held on 3 May 2023.

Last April, Egypt Aluminum unveiled plans to generate net profits after tax worth EGP 3.12 billion in FY23/24, compared to EGP 3.02 billion in the previous FY.

In the first half (H1) of FY22/23, the EGX-listed firm posted EGP 1.70 billion in net profit after tax, compared to EGP 814.15 million during July-December 2021.