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Egypt Aluminum targets EGP 138m profit in FY21/22

Egypt Aluminum targets EGP 138m profit in FY21/22
The company plans EGP 493.22 million in investments in the coming fiscal year
Egypt Aluminum
EGAL
-0.97% 13.32 -0.13

Cairo – Mubasher: The ordinary general meeting (OGM) of Egypt Aluminum approved the planned budget for fiscal year (FY) 2021/2022.

The company targets EGP 138.39 million in net profits and EGP 493.22 million in investments in the coming fiscal year, according to a bourse disclosure on Tuesday.

During the first nine months of FY20/21, Egypt Aluminum suffered net losses of EGP 347.72 million, down from EGP 1.02 billion in the corresponding period a year earlier.