Cairo – Mubasher: Egypt Aluminum on Wednesday posted a 1,942% year-on-year hike in profits for fiscal year 2016/2017 due to a jump in its revenues.

The firm achieved profits of EGP 1.73 billion in the fiscal year ended June 2017, versus EGP 84.8 million in the prior fiscal year, Egypt Aluminum said in a statement to the Egyptian Exchange (EGX).

Revenues grew to EGP 9.09 billion in FY16/17 from EGP 5.006 billion in the previous fiscal year.

Egypt Aluminum’s stock closed Tuesday’s trading session up 7.84% to EGP 106.94.