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Egypt Aluminum's loss shrinks 46% in Q1-20/21

Egypt Aluminum's loss shrinks 46% in Q1-20/21
Revenues increased to EGP 2.18 billion in the July-September
Egypt Aluminum
EGAL
3.19% 13.50 0.42

Cairo – Mubasher: Egypt Aluminum reported net losses of EGP 150.9 million during the first quarter (Q1) of fiscal year 2020/2021, down by 45.7% year-on-year (YoY) from EGP 277.8 million, the unaudited financial results showed.

The company’s revenues increased to EGP 2.18 billion in the July-September period from EGP 1.89 billion in the same period a year earlier, according to a bourse disclosure on Sunday.

During FY19/20, the Egyptian firm incurred net losses of EGP 1.638 billion, against net profits of EGP 570.93 million a year earlier.