Cairo – Mubasher: The unaudited financial statements of Egypt Aluminum showed an annual 110.80% rise in net profits during the first quarter (Q1) of fiscal year (FY) 2022/2023 to EGP 642.63 million, compared to EGP 304.71 million.

Basic earnings per share (EPS) stood at EGP 0.90 in Q1-FY22/23, compared to EGP 0.43 in Q1-FY21/22, according to a stock exchange statement on Monday.

The company’s revenues registered EGP 3.47 billion during the three-month period ended 30 September 2022, compared to EGP 3.33 billion in the corresponding period a year earlier.

During FY21/22, the company's net profits amounted to EGP 2.42 billion, compared to profits of EGP 28.27 million during the twelve-month period ended 30 June 2021.

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