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Egypt Aluminum’s net profits leap 101% in H1-23/24

Egypt Aluminum’s net profits leap 101% in H1-23/24
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Egypt Aluminum
EGAL
3.51% 91.35 3.10

Cairo – Mubasher: Egypt Aluminum posted net profits after tax valued at EGP 3.43 billion in the first half (H1) of fiscal year (FY) 2023/2024, an annual leap of 101% from EGP 1.70 billion.

The revenues hiked by 60% to EGP 13.38 billion in H1-23/24 from EGP 8.35 billion in H1-22/23, according to the unaudited income statements.

Earnings per share (EPS) reached EGP 4.83 as of 31 December 2023, versus EGP 2.40 in the year-ago period.

During the three-month period that ended on 30 September 2023, the EGX-listed firm recorded 61% year-on-year (YoY) higher net profits after tax at EGP 1.63 billion, compared to EGP 642.63 million.

Revenues enlarged by 42% to EGP 5.99 billion in the first quarter (Q1) of 23/24 from EGP 3.47 billion a year earlier, while the EPS climbed to EGP 2.29 from EGP 0.90.