Egypt Aluminum’s profits hike 47.6% YoY in FY2022/23

Egypt Aluminum Company (Egyptalum) (EGAL) registered a 47.6% year-on-year (YoY) surge in net profit after tax for the fiscal year (FY) 2022/2023, according to the company’s unaudited financial statement filed to the Egyptian Exchange (EGX) on August 28th.

Net profit after tax reached EGP 3.692 billion in the 12-month period ended June 30th, 2023, compared to EGP 2.501 billion in FY 2021/2022.

The company generated revenues of EGP 22.045 billion in FY 2022/2023, higher than EGP 14.481 billion in a FY earlier.

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