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Arab Aluminum profits rise 7% in H1-17

Arab Aluminum profits rise 7% in H1-17
Arab Aluminum posted a 6.8% year-on-year surge in H1-17
Arab Aluminum
ALUM
-3.10% 28.07 -0.89

Cairo – Mubasher: Arab Aluminum posted a 6.8% year-on-year surge in the first half of 2017 due to higher sales, according to a bourse filing on Wednesday.

Net profits amounted to EGP 3.23 million in H1-17 from EGP 3.02 million in H1-16.

Sales increased 44% to EGP 132.09 million in H1-17, compared to EGP 91.6 million in H1-16.

The company had previously achieved profits of EGP 1.55 million in the three months ended March 2017 from EGP 1.01 million in the corresponding period of 2016.

By 10:20 am Cairo time, Arab Aluminum’s stock shed 2.3% to EGP 28.4.