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Egypt Aluminum’s profit surpasses EGP 2bn in FY21/22

Egypt Aluminum’s profit surpasses EGP 2bn in FY21/22
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Egypt Aluminum
EGAL
1.27% 19.10 0.24

Cairo – Mubasher: Net profits of Egypt Aluminum amounted to EGP 2.42 billion during fiscal year (FY) 2021/2022, according to a stock exchange statement on Wednesday.

This is compared to profits of EGP 28.27 million during the twelve-month period ended 30 June 2021.

Basic earnings per share (EPS) stood at EGP 3.54 in FY21/22, compared to EGP 0.07 in FY20/21.

Moreover, revenues for FY21/22 recorded EGP 14.48 billion, a surge from EGP 11.36 billion a year earlier.

Over the first nine months (9M) of FY21/22, Egypt Aluminum turned profitable, logging net profits after tax worth EGP 1.68 billion, versus net losses of EGP 347.72 million in the year-ago period.

During the July-March period of FY21/22, the company generated EGP 10.76 billion in revenue, up from EGP 8.14 billion in the same period a year earlier.