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Egypt Aluminum swings to profits in Q1-21/22 initial financials

Egypt Aluminum swings to profits in Q1-21/22 initial financials
The revenues levelled up to EGP 3.33 billion
Egypt Aluminum
EGAL
-2.46% 19.00 -0.48

Cairo – MubasherEgypt Aluminum turned to net profits of EGP 304.72 million in the first quarter (Q1) of fiscal year (FY) 2021/2022, versus net losses of EGP 150.9 million in the prior-year period, the unaudited financial results showed. 

The revenues levelled up to EGP 3.33 billion in the July-September period of 2021, compared to EGP 2.18 billion in the same period in 2020, the company said in a bourse disclosure on Monday. 

In FY20/21, the company posted net profits of EGP 28.27 million, against net losses of EGP 1.67 billion in FY19/20.